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Novogratz ‘Doubtful’ Bitcoin Will Push Through $30,000 Soon

  • Would be happy if Bitcoin stays in $20,000-$30,000 range
  • Not seeing huge institutional inflow yet despite interest
Michael Novogratz

Michael Novogratz

Photographer: Victor J. Blue/Bloomberg

Michael Novogratz, the billionaire who founded crypto financial services firm Galaxy Digital Holdings Ltd., said he expects Bitcoin to stay within its recent price range, and that there haven’t been significant inflows of institutional capital into the space. 

“Will Bitcoin get through $30,000 on this move up? We will see -- I’m doubtful. I think we’re going to probably be in this range now. I quite frankly would be happy if we’re in a $20,000, $22,000 or $30,000 range for a while,” Novogratz said in an interview on Bloomberg TV. “We’re not seeing huge institutional flows, to be fair, but we’re not seeing anyone back away.”