Billionaire investor Mike Novogratz says he remains bullish on cryptocurrencies despite ongoing macroeconomic uncertainty, citing growing participation from both retail investors and Wall Street firms.
Novogratz, the founder and chief executive officer of Galaxy Digital, tells SkyBridge Capital founder Anthony Scaramucci that recent tariff headlines and geopolitical developments created near-term risk and weakness in crypto prices.
Still, Novogratz says things are looking up.
“Crypto has been trading better this year. It’s broad-based ETF participation, i.e. retail. We know Wall Street’s moving into crypto. So I’m bullish on crypto.”
Novogratz says Bitcoin is consolidating, and he’s looking for BTC to clear a key technical threshold.
“Again, I caution that I won’t get Wolf of Wall Street bullish where I’m pounding my chest until we take out $100,000, $104,000 and stay there for a week or two.
That was a big level that broke. So technically, Bitcoin still is in this consolidation phase and we might be there for the next few months or longer. So I have a core long position for the firm. Full disclosure, I will get both fists pumping until we take out that $100,000, $104,000.”
BTC is trading for $89,760 at time of writing.
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