When Will BTC Price Bull Run?

Mike Novogratz, head of blockchain investment firm Galaxy Digital, believes gold and BTC prices will bull run and attract investors again.

In an interview with CNBC's Squawk Box, Novogratz claimed Bitcoin (BTC) and gold will prosper in the long term if the central bank resumes monetary easing or easing monetary policy.

He blamed global macroeconomic conditions for the continued decline in BTC prices. The billionaire investor argues, many parties are stuck by monetary tightening or tightening monetary policy in 2022.

“Earlier this year, many people didn't believe the central bank could increase interest rates massively. But now interest rates are almost at four percent," Novogratz explained, quoted by U Today.

He added that Federal Reserve Chairman Jerome Powell and other central bank figures around the world must find courage.

Waiting for BTC Bull Run Price

The Federal Reserve is expected to announce an interest rate increase of 0.75 percent to calm inflation.

The trend of monetary tightening occurs globally, with Sweden recently announcing an increase in interest rates by one percent.

Novogratz's fortune briefly soared to US$8.5 billion last year when the crypto asset market was booming. The Bloomberg Billionaire Index revealed, following the drastic decline of the crypto market, this wealth has now shrunk to US $ 2.1 billion.

Despite experiencing heavy losses, Novogratz remains one of the richest figures in crypto.

The Wall Street veteran achieved success in the mid-1990s while working for banking giant Goldman Sachs. Novogratz was appointed head of the branch in Latin America, but he resigned due to an unsuitable lifestyle.

Novogratz then had success with the hedge fund Fortress, which went bankrupt in 2015 due to an investment error. In 2017, he again achieved billionaire status through the crypto market.

While waiting for the BTC price bull run, founder and chairman of software company MicroStrategy Michael Saylor announced the purchase of BTC worth US$6 million.

According to a file filed with the US Securities and Exchange Commission (SEC), MicroStrategy has added 301 BTC of BTC to its deposits on September 19, 2022.

The company became one of the first companies to deposit BTC on its balance sheet in 2020. Saylor started shoveling BTC when the price was under US$10,000, and now he has managed to amass 130k BTC.
">
Safelik Convert by ProTemplates
Done