Novogratz’s thoughts on Ethereum
Replying to whether Novogratz chose to buy Bitcoin or Ether, he said that he already holds both. Then, he explained why he is betting on Ethereum these days.
“It goes into price discovery if [Ether] takes out $4,000, so we feel kind of destined to at least knock on the 4,000 ceiling a few times,” Novogratz stated. He described how Ether’s performance has been moving in different directions and asserted that the market isn’t taking into account the strength of Ether’s story or the rising demand for this asset from businesses. Novogratz even predicted that in three to six months, Ether will beat Bitcoin.
BitMine Immersion Technologies and Sharplink Gaming are the businesses purchasing ETH that Novogratz mentioned; they are said to possess 566,766 ETH and 360,807 ETH, respectively. Ether Machine, which intends to IPO on the Nasdaq with a $1.5 billion Ether bet, will soon join these businesses.
Galaxy’s focus switches from Bitcoin to Ethereum
Galaxy’s digital asset holdings are not limited to Ether. For instance, it also holds bitcoins. As of July 25, Galaxy’s BTC holdings amounted to 13,504 units. Novogratz is not bearish on Bitcoin. During the same interview on CNBC, he predicted that Bitcoin would soon reach $150,000 and expressed little to no doubt about a bullish outcome, at least if Trump doesn’t change his stance on rate policy.