Mike Novogratz, CEO of Galaxy Digital, expressed optimism regarding Bitcoin's future, predicting its ascent to new highs by the end of July 2023 due to increasing institutional interest.
Institutional Adoption Fuels Bitcoin Optimism
During his appearance at the Ondo Summit, Novogratz highlighted the role of institutional adoption and public listings as catalysts for Bitcoin's growth.
"The U.S. government will start adding Bitcoin to its balance sheet around Q2–Q3 2025." — Mike Novogratz, CEO, Galaxy Digital.
Bitcoin Stabilizes Above $120,000
Currently, Bitcoin has stabilized above the $120,000 mark, supported by institutional investments including ETFs and positive technical indicators like the MACD and RSI.
Analysis of Bitcoin's New Highs Post-Institutional Adoption
Bitcoin has reached new highs after institutional adoptions and halving events. Analysis indicates that Bitcoin may maintain its bullish trend due to increased institutional interest and uncertainties in fiscal policy.
Mike Novogratz predicts that institutional adoption will play a crucial role in sustaining an optimistic trend for Bitcoin, potentially leading to new historical achievements by the end of July.