Bitcoin cryptocurrency may cost $ 500,000 in 5 years

Billionaire and CEO of Galaxy Digital Mike Novogratz shared his opinion on the value of bitcoin: the investor believes that the BTC will cost $ 500,000 in 5 years.

As Mike Novogratz said at the Bloomberg Crypto Summit, he is convinced that the value of the flagship cryptocurrency will grow over the next 5 years and reach a new high in 2027. Novogratz is also of the opinion that bitcoin can help people preserve their wealth in times of inflation, which, according to the billionaire, will continue to grow.

Interestingly, the CEO of Galaxy Digital criticized regulators who «are not doing enough to protect retail investors in the cryptocurrency space.» Mike Novogratz is convinced that the worst times of the crypto market are over, and bitcoin remains a reliable financial asset.

A few days ago, bitcoin actually grew — by 7% in 24 hours. As a result, the entire crypto market reached a capitalization of $ 1.11 trillion. According to CoinMarketCap, on July 20 at 9:59 a.m., bitcoin was trading for $ 23,749, which is more than 7% more expensive than at the same time on July 19 (when BTC was trading for $ 21,747). At the time of writing, BTC is trading at $ 23,149, up 12% in 7 days.