Bitcoin price could rise to $ 100,000 by the end of 2021 if other companies follow the lead of electric car manufacturer Tesla. The founder of the cryptobank Galaxy Digital, Mike Novogratz, said this in an interview with Bloomberg.
The billionaire called Elon Musk a genius in his decision to listen to people and evaluate the interests of young people. In his opinion, other organizations will invest in the first cryptocurrency to hedge inflation risks.
“You will see every company in America start doing the same,” said the billionaire.
On Monday, February 8, Elon Musk’s company announced a $ 1.5 billion investment in bitcoin. Tesla admitted that in the future they will integrate the first cryptocurrency as a means of payment for products.
The price of digital gold hit $ 44,800 and tested the $ 48,000 mark on February 9th. At the time of writing, the coin is trading at around $ 46,320 on the Bitstamp exchange.
Bitstamp’s 4-hour BTC / USD chart from TradingView.
Earlier, Novogratz called bitcoin a profitable and reliable investment. In his opinion, everyone should invest 2-3% of their net capital in the first cryptocurrency.
We will remind, analysts of the investment bank RBC Capital Markets called on Apple to follow Tesla’s example and buy bitcoin.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
