Galaxy Digital CEO Michael Novogratz shared his forecasts regarding the future of Bitcoin and Ethereum, highlighting the growing interest in the latter.
Prediction for Ethereum
On CNBC's Squawk Box, Michael Novogratz expressed the view that Ethereum may soon surpass Bitcoin. According to him, "I think Ethereum has a good chance of surpassing Bitcoin in the next three to six months, because ETH's story is really strong and ETH has recovered very quickly."
Institutional Interest and Its Impact
Novogratz noted that the increasing interest from large companies in Ethereum is contributing to its strength. "Public companies are copying Strategy's (formerly MicroStrategy) Bitcoin treasury model, but they're buying ETH instead of BTC. They're raising capital every day and buying ETH, which is driving ETH's strength," he added.
Prediction for Bitcoin
He also mentioned his predictions for Bitcoin, adding that the price could reach $150,000 this year. BitMEX co-founder Arthur Hayes also stated that Bitcoin may reach $250,000 by the end of the year, while Ethereum could reach $10,000.
Michael Novogratz's forecasts, along with those of other experts, are garnering attention among crypto investors, as the increasing interest in Ethereum and support from public companies may significantly impact the market.
