Galaxy Digital CEO Mike Novogratz doesn’t see Bitcoin slowing down any time soon, and predicts that its value could reach up to $500,000 within the next five years. However, he also foresees 75% of the current cryptocurrencies disappearing from the space due to ongoing regulation efforts.
In an interview with Bloomberg Technology, Novogratz predicted that decentralized systems will replace traditional finance structures, and the cryptocurrency ecosystem would become the new way of investing.
Novogratz believes Bitcoin will serve as a lifeline for people who don’t trust their government, or don’t want to rely on their local currency. He is optimistic about the future of cryptocurrencies, despite their recent slumps in value.
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After a long career in finance, Novogratz became the CEO of ‘Galaxy Digital’ in 2017 and, just one year later, became one of the richest crypto millionaires in the world. Today, Galaxy Digital holds a market cap of $5.78 billion and $3 billion in assets under management.
You can watch the full interview below.
