A well-known cryptocurrency analyst has called bitcoin the safest asset in the world

Editor’s note: not financial advice!

According to Mike Novogratz, CEO of Galaxy Digital, the US banking system is entering a state of severe crisis, so users need to look for alternative investment instruments. According to the analyst, bitcoin is the safest asset in the world.

Speaking to CNBC, Novogratz emphasized that the US authorities have been trying to stabilize the economy since the summer of 2022. However, so far, the Federal Reserve has not seen any positive results of its tough policy.

According to Novogratz, the financial crisis may drag on for a long time. In order not to jeopardize their own savings, it is necessary to «transfer their funds to precious metals and cryptocurrencies» now, the billionaire said.

At the end of February, Mike Novogratz suggested that bitcoin has a chance to return to the $ 30,000 mark or even surpass it by the end of March. Currently, the value of the flagship cryptocurrency has increased by 6% over the past 24 hours, reaching $ 27,000. The value of BTC $95,502.82 Bitcoin -0.78% Market capitalization $1.89 trillion VOL. 24 hours $2.28 billion has also shown positive indicators over the past 7 days — the digital asset has risen by 36%, so there is a high probability that Novogratz’s forecast will come true.

Speaking at a conference hosted by Bank of America, Novogratz said he would be the happiest person if 2022 ended with $ 30,000 worth of bitcoin. However, given the price movement now, the analyst would not be surprised if the flagship cryptocurrency trades above this mark by the end of the first quarter of 2023.