Mike Novogratz named an unexpected catalyst that will cause bitcoin to grow

Mike Novogratz, CEO of Galaxy Digital, said that a new potential catalyst for the growth of bitcoin BTC $61,768.07 Bitcoin 2.58% Market capitalization $1.22 trillion VOL. 24 hours $1.44 billion value could be trading in options tied to spot bitcoin ETFs. In an interview with CNBC, Novogratz noted that the U.S. Securities and Exchange Commission (SEC) has indicated that such options may appear in the near future, although the exact date of their launch remains uncertain.

He cited the example of MicroStrategy Inc. whose share capital is trading at more than 2.3 times the value of the BTC held by the company, mainly due to the popularity of option trading. Novogratz also emphasized the rising interest of young investors, especially on platforms like Robinhood, who are actively interested in cryptocurrency investments.

Novogratz predicts that the flow of investments in bitcoin ETFs will continue over the next few years. In addition, the crypto expert expects that the United States will soon have a clear regulatory framework for digital assets, regardless of the results of the presidential election. This, in his opinion, will facilitate the spread of cryptocurrencies in the traditional financial system and stimulate innovation in blockchain technologies.

In the summer, Novogratz predicted that bitcoin would rise to $ 100,000. However, the analyst’s predictions turned out to be wrong.