Head of Galaxy Digital is confident that bitcoin will surpass $ 500,000 due to the global crisis

Billionaire and founder of Galaxy Digital Mike Novogratz has shared his opinion on the future of bitcoin amidst economic developments. Speaking at a summit organized by Bloomberg, Novogratz said that BTC $96,767.78 Bitcoin -1.78% Market capitalization $1.92 trillion VOL. 24 hours $1.87 billion will reach $ 500,000 in the near future.

Novogratz compared the fall of cryptocurrencies to the collapse of Lehman Brothers during the 2008−2009 financial crisis. According to the analyst, supervisory agencies will be able to ensure investor safety if the crypto industry is legalized.

Currently, regulators do not have enough leverage to control the movement of funds in digital currencies. «I don’t know what the SEC should have done or could have done, but it hasn’t done anything to protect retail investors ,» Novogratz emphasized.

The CEO of Galaxy Digital still shares the opinion of those experts who predict the long-term growth of bitcoin. Mike Novogratz is of the opinion that HTS can help people preserve their wealth in a period of inflation, which, according to the billionaire, will continue to grow.

As a reminder, the crypto space is currently experiencing a «war» between the regulator and the largest exchanges — Binance and Coinbase. As for the latter, a judicial investigation initiated by the U.S. Securities and Exchange Commission (SEC) against Binance showed that the platform’s activities are significantly influenced by a shadowy leader who may be behind questionable transactions, from the SEC’s point of view. Most likely, this is Guangyin Chen, aka Haina Chen.