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Bitcoin Bull Novogratz Reacts to ‘Massive’ BlackRock News
In a recent statement, Mike Novogratz, a prominent Bitcoin enthusiast and founder of Galaxy Digital, has responded to the news that BlackRock, one of the world’s largest asset management firms, recommended including Bitcoin in a multi-asset portfolio. According to reports, this recommendation was made for investors who wish to incorporate Bitcoin into their portfolios.
However, some might have overestimated the significance of this move. ETF expert Nate Geraci has noted that it was not a blanket recommendation for all investors but rather a suggestion for those looking to diversify their holdings by including Bitcoin in their portfolio.
Novogratz, known for his bullish stance on the cryptocurrency market, believes that this development could have significant implications. In an interview with Bloomberg, he stated that if the US were to establish a strategic Bitcoin reserve, he wouldn’t be surprised if the price of the flagship cryptocurrency soars to $500,000 in the future.
Additionally, Novogratz is convinced that Bitcoin will surpass gold as a store of value over the next decade. This prediction comes as Bitcoin continues its impressive rally, with the current price standing at $99,624.
As the debate surrounding the regulatory and economic implications of BlackRock’s decision continues to unfold, it remains essential for investors to stay informed about market developments and expert opinions like those shared by Novogratz.
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Source: u.today
