Galaxy CEO Mike Novogratz shared his thoughts on the establishment of a strategic Bitcoin reserve in the U.S., calling it a highly significant event.
Mike Novogratz's Commentary
Mike Novogratz believes that the establishment of a U.S. Bitcoin reserve will send an important message to other countries. Despite this, he previously described the idea of backing the dollar with other assets as 'counterintuitive.'
Adam Back's Opinion
Blockstream CEO Adam Back echoed Novogratz's sentiment, stating that the reserve announcement significantly shifts the perspective on Bitcoin. He added that it sets a new reference point for funds and investors.
Bitcoin Price Forecast
Novogratz predicted that Bitcoin's price could reach $500,000 if the U.S. creates a Bitcoin reserve. Despite the support, Bitcoin failed to reclaim its position at $91,000.
The establishment of a U.S. Bitcoin reserve has sparked debates among experts. While supported by Mike Novogratz and Adam Back, market reactions remain mixed.
