Galaxy Digital CEO Mike Novogratz Foresees Bitcoin Explosion, SEC Approval of ETFs
Portfolio Pulse from Murtuza Merchant
Galaxy Digital Holdings Ltd. CEO, Mike Novogratz, predicts a rise in Bitcoin's value by the end of the year and anticipates the approval of Bitcoin ETFs in the U.S. This growth is largely attributed to the anticipation of a potential US approval of a Bitcoin ETF. The approval of a Bitcoin ETF will lead to widespread adoption of Bitcoin by investors through firms like BlackRock Inc. and Invesco. Galaxy, currently listed in Toronto, is working towards becoming a Delaware-incorporated company and plans to list on the Nasdaq, pending an ongoing review by the SEC.
July 13, 2023 | 4:09 pm
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POSITIVE IMPACT
The approval of a Bitcoin ETF will lead to widespread adoption of Bitcoin by investors through firms like BlackRock Inc.
If a Bitcoin ETF is approved, it could lead to increased business for BlackRock as more investors look to gain exposure to Bitcoin, potentially driving up the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Galaxy Digital Holdings Ltd. is working towards becoming a Delaware-incorporated company and plans to list on the Nasdaq, pending an ongoing review by the SEC.
The news of Galaxy Digital's potential listing on the Nasdaq could attract more investors, potentially driving up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Mike Novogratz predicts a rise in Bitcoin's value by the end of the year and anticipates the approval of Bitcoin ETFs in the U.S.
The prediction of a rise in Bitcoin's value and the potential approval of Bitcoin ETFs in the U.S. could attract more investors, potentially driving up the price of Bitcoin in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100