"It's good that this CEO never thinks negatively about BTC."
Mike Novogratz, avid cryptocurrency investor and CEO of Galaxy Digital predicts that Bitcoin (BTC) will reach $40,000 if the Federal Reserve (Fed) stops raising interest rates.
He also said that gold, the euro, BTC and Ethereum (ETH) have the potential to surge higher in the future as the Fed moves toward slowing monetary tightening and not acting so aggressively.
Following BTC successfully passing $30,000, Novogratz expects the price of the digital asset to rise to $40,000 or more but it still needs to depend on the Fed's next move.
Meanwhile, he believes BTC equity will remain range bound this year as investors may not be interested in investing in the digital asset due to its relatively high price making it difficult to buy.
Earlier during an interview with CNBC, Novogratz stated that the price of BTC could jump above $30,000 adding that the increase may come from the crypto community rather than major institutional players.
Even so, investors should also be careful with Novogratz's latest prediction as it is still uncertain whether it will come true or not.
As of this writing, BTC price is up 1.52% at $30,609 in the last 24 hours with a market cap of $591 billion and has posted a 9.20% gain over the past week.
