Novogratz: Ethereum Poised to Outpace Bitcoin
Key Takeaways
- Galaxy Digital CEO Mike Novogratz forecasts Ethereum may outperform Bitcoin over the next 3 to 6 months.
- Novogratz suggests Bitcoin is in price discovery, aiming for a $150,000 upside target.
Mike Novogratz, CEO of Galaxy Digital, suggests that Ethereum could gain an advantage over Bitcoin in the coming months, citing robust market dynamics, rising institutional interest, and constrained supply.
During a CNBC Squawk Box interview, Novogratz noted Ethereum's rapid growth, suggesting it could enter a price discovery phase if it surpasses the $4,000 mark.
"Ethereum's narrative is incredibly compelling," Novogratz stated. "We now have multiple major treasury companies, with more on the horizon, actively raising capital and acquiring Ether daily, which tightens the available supply."
"Ethereum has a strong likelihood of outperforming Bitcoin in the short term," he added, confirming his investment in both cryptocurrencies.
Regarding Bitcoin's future, Novogratz projected a potential climb to $150,000. Despite some sellers entering the market, he believes the prevailing macro and policy environment, particularly Trump's advocacy for lower rate cuts, supports continued growth.
"Many of these assets are in price discovery," Novogratz remarked. "A target of $150,000 seems reasonable."
"Should Trump alter his stance on the necessity of lower rates, my thesis would shift," Novogratz cautioned. "However, until then, I anticipate a move towards $150,000."
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