Galaxy Digita CEO: Bitcoin price should 'go higher within six months'
Michael Novogratz, CEO of Galaxy Digital, said that the price of Bitcoin should "rise within six months" as investors sell their shares in the Grayscale Bitcoin Trust (GBTC) and move towards trading other exchange-traded funds (ETFs). Novogratz added that the current market anxiety will dissipate, and only about 30% of the outflow of funds from GBTC has gone to newly established ETFs, thus pushing up the valuation of Bitcoin in the next six months.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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