tl;dr
Mike Novogratz expressed a bullish outlook on Bitcoin, attributing its expected rise to dovish U.S. rate expectations and strong corporate balance sheets driving adoption. He highlighted growing corporate interest in Ethereum, noting major ETH treasury companies. Novogratz believes the Federal Reser...
During a recent appearance on CNBC's "Squawk Box," Mike Novogratz expressed a bullish outlook for Bitcoin, stating that it is "destined" to increase in value. He linked this optimism to ongoing dovish rate expectations in the U.S., which he believes are driving market momentum. Novogratz highlighted the significant role that companies with strong balance sheets are playing in fueling the rally, pointing out that corporate adoption of cryptocurrencies is expanding beyond Bitcoin.
Specifically, Novogratz noted that Ethereum (ETH) is also gaining traction, mentioning the existence of major ETH treasury companies as evidence. Regarding Federal Reserve policy, he observed that the Fed faces constant pressure to cut interest rates, a factor he sees as supportive of crypto prices. When pressed on price targets, Novogratz suggested that Bitcoin could reach $150,000, although he cautioned that the journey will not be smooth, with sellers likely to intermittently temper gains.
However, Novogratz added that his positive stance would require revision if the Fed adopts a more hawkish rate policy suddenly. Looking ahead, he projected that Ethereum might outperform Bitcoin in the latter half of the year. He forecasted that ETH could enter a "price discovery" phase once it surpasses the $4,000 threshold, potentially driving returns higher over the next three to six months.