Michael Novogratz, the CEO of Galaxy Digital, recently predicted that Bitcoin could see significant growth in the near future. Novogratz, who is a former hedge fund manager and Wall Street investor, made the prediction during an interview with Bloomberg TV. He believes that Bitcoin is currently in a “bull market” and that it could reach a price of $20,000 by the end of 2021.

Novogratz believes that Bitcoin’s current price is being driven by institutional investors who are looking for an alternative asset class to diversify their portfolios. He also believes that the increasing demand for Bitcoin is due to its limited supply and its increasing utility as a payment system. He believes that the increasing demand for Bitcoin will continue to drive its price higher in the near future.

Novogratz also believes that the increasing adoption of Bitcoin by major companies such as Tesla and PayPal is a sign of its growing legitimacy. He believes that this will lead to more institutional investors entering the market and driving up the price of Bitcoin. He also believes that the increasing acceptance of Bitcoin as a payment system will further increase its demand and drive its price higher.

In addition to his bullish outlook on Bitcoin, Novogratz also believes that Ethereum could see significant growth in the near future. He believes that Ethereum’s smart contract capabilities and its ability to facilitate decentralized finance (DeFi) will drive its price higher in the near future.

Overall, Michael Novogratz’s prediction that Bitcoin could see significant growth in the near future is an encouraging sign for cryptocurrency investors. His bullish outlook on Bitcoin and Ethereum is based on their increasing utility as payment systems and their increasing adoption by major companies. If his predictions are correct, then investors could see significant gains in the near future.