Mike Novogratz, an American investor, crypto advocate, and CEO of the digital monetary services and funding administration firm Galaxy Digital Holdings Restricted predicted that the value of the primary cryptocurrency, Bitcoin, would quickly reach $30,000 by the end of March 2023.
Notably, on February 15, Novogratz stated at the Bank of America convention that it would not surprise him if the value of Bitcoin rose above $30,000.
Novogratz also expressed his dissatisfaction with Bitcoin’s recent price decline, stating that he would have been the happiest person if the price had reached $30,000 by the end of 2022.
Previously, the investor predicted that the value would skyrocket, reaching $500,000 by the end of 2027, if the US Federal Reserve kept raising interest rates.
Tracing the trajectory of the BTC value over the previous three months reveals that the coin has risen from $16.72k in December 2022 to the current $24.66k.
Curiously, Novogratz’s present prediction is way behind the anticipated value for 2027 and is 25% greater than the current value. Specifically, Novogratz discussed his earlier prediction at the previous day’s convention, referring to Fed Chair Jerome Powell, who recently raised the pursuits on February 1.
Furthermore, Novogratz believes that the Fed will not introduce any additional rate hikes shortly:
Chairman Powell is what makes me doubtful that we will see explosive, back-to-old highs this year. He’s actually doing what he says he’ll do, and I don’t see the Fed pivoting and cutting rates anytime soon.
