Galaxy Digital CEO Novogratz Believes Bitcoin Could Reach $40,000 if Fed Cuts Interest Rates

According to Galaxy Digital Holdings Ltd. CEO Mike Novogratz, the top cryptocurrency Bitcoin could potentially reach $40,000 if the Federal Reserve decides to cut interest rates.

Novogratz also suggests that gold, the euro, and cryptocurrencies such as Bitcoin and Ethereum are likely to outperform other investments, particularly in the wake of recent bank failures and the potential for a looming credit crunch.

While the future remains uncertain for US regulators and their approach to dealing with Binance’s recent lawsuit from the Commodity Futures Trading Commission, Novogratz remains hopeful that the company will pay their fines and move on.

Despite the recent surge of Bitcoin reaching a new all-time high of over $30,000 just before the announcement of the CPI rate adjustment, it is important for investors to conduct their own research and proceed with caution when investing in the highly volatile cryptocurrency market.