Speaking with Anthony Pompliano at the Bitcoin 2022 conference in Miami on Wednesday, Novogratz said he was impressed by Bitcoin's recent performance, given macro hurdles such as the Fed's rate hike. “I think Bitcoin is trading incredibly well,” Novogratz said.
He added that he believes FED Chairman Jerome Powell "realized that he was behind his time" and warned that he would likely be "too hawkish" for a while. Novogratz said Powell has a reputation he wants to preserve. “I think Bitcoin will go to the moon when the FED stops,” Novogratz said.
In addition, Novogratz said that Bitcoin "has a much more important place outside of the US compared to its location in the US." However, he also stated that he thinks that the aim is not to replace the dollar with Bitcoin. “For investors, the focus should be on storing some of their holdings in BTC,” Novogratz said. When asked how high Bitcoin will rise, Novogratz said he will "see a million dollars". "I pray that the dollar stays strong and that Bitcoin does not go away forever. If Bitcoin goes forever, all stability in the West will be destroyed," Novogratz said.
Bitcoin bull MicroStrategy CEO Michael Saylor also spoke at the Bitcoin 2022 Conference
Speaking to James Seyffart, an analyst at Bloomberg Intelligence, Bitcoin bull Saylor said that MicroStrategy does not regret choosing Bitcoin (BTC) over gold. According to Saylor, if MicroStrategy had opted for gold, the company's shareholders would have missed out on $4 or $5 million in profits.
“If I had chosen to buy gold instead of bitcoin, we would probably have around $250 million in gold. As a result, our shareholders would have missed out on $4 or $5 billion in profits.”
The famous CEO also stated that he does not think that cryptocurrencies are against the US dollar. He cited the reason that Bitcoin is more like property than money, and the dollar remains the best currency to have in any country in the world.