Institutional Investors To Increase BTC Price To $8000 – Novogratz
Mike Novogratz, CEO of the Galaxy Digital crypto bank, suggested in the interview with Bloomberg that some custodial solutions, which would bring institutional investors to the crypto sphere, would be launched in the early spring of 2019.
The appropriate infrastructure began to emerge gradually in the crypto industry so that institutional companies could feel confident, Mike Novogratz stated.
In his opinion, “smart money” will come to the crypto market in March. Only Fidelity Investments has several hundreds of customers who would like to invest in the first cryptocurrency. However, the rapid growth of crypto investments should not be expected, big business never makes sudden movements and approaches many solutions with caution.
In the next six months or a year, large companies will invest small amounts of money in digital assets. Although, what is considered to be small amounts for them, in fact, represents a serious investment, Novogratz stressed.
Increased demand for digital assets will lead to an increase in their value, and bitcoin may actually reach $8000 and will strengthen its position in the market as “digital gold”.
Mike Novogratz expressed regrets that there were a large number of unsupported projects in 2018, the prices of thousands of digital assets were overstated, and this negatively affected the development of the entire crypto sphere.
As previously reported, Galaxy Digital will raise funds that will be used to create a fund for issuing loans to crypto companies.