Renowned investor Mike Novogratz predicts that the US government will start adding Bitcoin to its balance sheet by mid-2025. Speaking at the Ondo Summit, he expressed optimism regarding the growing role of cryptocurrency in the financial system.
Novogratz's Predictions and Optimism
At the recent Ondo Summit, Mike Novogratz stated he believes Bitcoin will be on the government’s balance sheet within six months. He emphasized that Bitcoin has solidified its position as a reliable store of value and could soon play a key role in national financial strategies.
Institutions and Bitcoin
Novogratz noted that with the new leadership direction at SEC, an increase in institutional adoption of Bitcoin can be expected. He also mentioned that several major firms, including Galaxy Digital, plan to go public, highlighting the increased interest in digital assets.
Novogratz on Short-Term Volatility
While Novogratz acknowledged the potential for short-term volatility in Bitcoin’s price, he dismissed any concerns, stating it should be seen as a 'buying opportunity,' as long-term demand from institutional investors is anticipated.
Mike Novogratz's predictions about the potential addition of Bitcoin to the US government balance sheet highlight the growing interest in cryptocurrencies in both political and financial circles which may lead to further adoption of Bitcoin as a strategic financial asset.
