"Wow seriously, you have to be prepared if you don't want to miss out. I'll regret it later."
Just after surpassing $71,000 yesterday, Galaxy Digital Chief Executive Officer (CEO) Mike Novogratz predicted the price of cryptocurrency king Bitcoin (BTC) will reach $100,000 by the end of this year driven by growth in digital asset regulation.
In his recent interview with Bloomberg, Novogratz believes that the price of BTC can climb up to $100,000 by the end of 2024 if the digital asset can break through $73,000 next week.
Please note the spot approval of the BTC ETF which triggered an inflow of approximately $60 billion has caused the price of BTC to climb to an all-time high (ATH) until institutional investors also switched to BTC.
So here it can be seen that institutional firms that are increasing their exposure to BTC through ETFs have shown that more accumulation has already taken place plus the macro economic outlook has been found to be increasingly positive.
Over the past few weeks, crypto regulation has dominated the wider industry space as executives are currently in the process of seeking regulatory clarity to further increase investment.
Novogratz and other crypto executives hailed the emerging bipartisan support received by the FIT21 bill aimed at passing House rules that now face their fate in the United States (US) Senate.
But it should be noted that SAB 121 was repealed by the Senate which was vetoed by Joe Biden has sparked strong criticism from the crypto community among users looking towards the Financial Innovation bill.
