Mike Novogratz, the founder and CEO of asset management company Galaxy Digital, said that he expects Bitcoin to go to 500 thousand dollars in 5 years, in the broadcast he participated in the US media on Bloomberg TV. Stating that he thinks this year will be stagnant, Novogratz said that people no longer believe in the traditional world order and want change.

Stating that the biggest crypto money can go to 500 thousand dollars in 5 years, Novogratz used the following statements:

“Bitcoin will not be adopted overnight, but…”

   It is said that with the Russia-Ukraine war money will no longer be defined as before, but will the money stay the same or the dollar? I think the dollar… When did the change start? It's about 10 years. The US and EU told Russia, "The assets you think are yours may not actually be yours." This has led us to enter a world we do not know. National currencies began to melt more. Yes, the world will not switch to Bitcoin in a day, but people are now starting to have the view that "I should be the sovereign currency too".

“No chance of Russians using crypto to break sanctions”

   Let's be clear, the chances of the Russian government using crypto to circumvent sanctions are zero. We, as Galaxy Digital, are controlled by 25 institutions and I am sure that this figure is similar in exchanges such as Binance and FTX. Almost all cryptocurrencies are in and out of exchanges, and most exchanges have KYC. The Bitcoin blockchain, on the other hand, is open. Everything is out there. In fact, if you want to catch someone, you use the Bitcoin blockchain. That's why Elizabeth Warren is looking in the wrong place.

“Bitcoin saves lives”

   The Russian ruble has lost 90% of its value in the last 10 years. Only this year, I think this figure is 65 percent. You look at the Turkish lira, there are similar figures. Therefore, we can say that Bitcoin saves lives here. We should also be happy that the Russians have a chance to spend some of their money on Bitcoin in this environment.

“There will be a certain rest period”

   Bitcoin has increased a lot over the past year. This increase came after the Fed's story of printing money. I think there will be a period of rest for a while. There are 150 million people in the world who buy Bitcoin. And these people continue to hold it in their hands. If it was a country, it would be the 8th largest country. For Bitcoin to rise even more, someone new needs to enter this community. Right now people are in crisis, Chinese tech stocks are falling hard. It is also falling in the USA. In this environment, people don't think, 'I should take more risks'. Therefore, there will be a period of pause.

“It will be 500 thousand dollars in 5 years”

   The Fed has not even started to increase interest rates yet… Despite this, this decline has come. I expect it to fluctuate between $30,000 and $50,000 this year. I think it will be 500 thousand dollars in 5 years. If not, then I was wrong about the adoption cycle. Bitcoin has grown very drastically over the past year. There is a serious interest from pension funds in the USA to the Middle East region.

“Young people now want change”

   People have lost their trust in the world now. Especially young people… Generation Z does not like the way the world is going and they want change. Anyone can join the Bitcoin network. It doesn't matter how much money you have or what nationality you are.