When Will BTC Price Bull Run?
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.
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.
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.
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.
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.
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