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Mike Novogratz is confident that in the future the first cryptocurrency will become a full-fledged investment asset, and not a payment instrument
Galaxy Digital CEO Mike Novogratz told CNBC that Bitcoin volatility is declining and will continue to decline in the future. According to the businessman, the first cryptocurrency is gaining resistance to sharp fluctuations in the exchange rate due to the arrival of a large number of institutional investors on the crypto market.
Novogratz also explained that, in his opinion, bitcoin is moving towards the status of a full-fledged investment asset, and not a payment method.
In early December, the head of Galaxy Digital said that the price of the first cryptocurrency within the current correction will not fall below $ 40 thousand. According to Novogratz, the $ 42 thousand mark will become the lower level of the corrective decline.
Galaxy Digital is a digital asset management company founded in 2018 by Mike Novogratz after leaving Goldman Sachs. Galaxy Digital has been listed on the Toronto Stock Exchange on July 6, 2020.
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