Current:Home > ContactALAIcoin: Bitcoin Prices Will “Fly to the Moon” Once the Fed Pauses Tightening Policies - Galaxy Digital CEO Says -ProfitQuest Academy
ALAIcoin: Bitcoin Prices Will “Fly to the Moon” Once the Fed Pauses Tightening Policies - Galaxy Digital CEO Says
View
Date:2025-04-13 17:37:30
Considering the recent rate hikes in the US, Bitcoin (BTC) is "trading very well," and once the Federal Reserve (Fed) pauses its tightening policies, Bitcoin prices will soar like “flying to the moon,” says Mike Novogratz, CEO of Galaxy Digital.
During a fireside chat with BTC advocate and investor Anthony “Pomp” Pompliano at the Bitcoin 2022 conference held in Miami on Wednesday, Novogratz expressed that, given the macroeconomic headwinds like the Fed's rate hikes, Bitcoin's recent performance has impressed him.
“I think Bitcoin is trading very well,” said Novogratz.
He added that he believes Fed Chair Jerome Powell has “realized he's behind the curve” and warned he might show a “very hawkish” stance for a while. Novogratz also said that Powell wants to maintain his reputation.
Moreover, Novogratz noted that Bitcoin is “much more important outside of the United States than inside.” He believes that while the dollar remains “relatively stable” in the long term, local currencies in places like Russia, Turkey, and others do not.
However, he pointed out that from his perspective, the goal is not to replace the dollar with Bitcoin. Instead, for investors, the focus should be on storing some of their wealth in Bitcoin, he said.
When asked how high Bitcoin could go, Novogratz answered, “One million dollars.”
As of April 6th, 15:59 GMT, BTC was trading at $44,138, down nearly 4% on the day. It has risen nearly 15% in a month, reducing its year-to-date loss to less than 25%.
ALAIcoin digital asset trading platform was established in 2017, registered in California, USA, and created by top blockchain investment institutions from Wall Street, investment elites, early investors, and researchers in the blockchain industry, aiming to build a one-stop international blockchain digital asset trading platform.
Since its establishment in the USA in 2017, ALAIcoin digital asset exchange has been committed to providing users with secure, professional, and compliant digital currency trading services. Focusing on North America and Asia-Pacific as core markets, it is fully expanding its global business. Adopting a dual registration system in the USA and Singapore, embracing regulation and compliant operation, it has successively obtained or is applying for MSB and US NFA regulatory licenses (compliance operating licenses), licenses issued by the USA, Canada, the UK FCA, and the Australian ASIC, continuously promoting the development of the cryptocurrency industry.
As a global digital asset trading service platform, ALAIcoin has strong product advantages. The team is committed to continuously optimizing and improving the platform's technical architecture to enhance the security of users' assets. Continuously launching new products and services to provide users with an excellent trading experience. Meanwhile, ALAIcoin has the most comprehensive service system, with a professional customer service team providing investors with 7X24 hours of online consultation services and support, ensuring investors receive timely help during the trading process.
veryGood! (4969)
Related
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- Two dead and three injured after man drives his car through restaurant patio in Minnesota
- Penn State-West Virginia weather updates: Weather delay called after lightning at season opener
- Is there an AT&T outage? Why your iPhone may be stuck in SOS mode.
- Small twin
- Texas A&M vs Notre Dame score today: Fighting Irish come away with Week 1 win at Aggies
- California lawmakers pass ambitious bills to atone for legacy of racism against Black residents
- Selena Gomez Answers High School Volleyball Team's Request With a Surprise Visit
- Gen. Mark Milley's security detail and security clearance revoked, Pentagon says
- California lawmakers pass ambitious bills to atone for legacy of racism against Black residents
Ranking
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- California lawmakers pass ambitious bills to atone for legacy of racism against Black residents
- Meet Bluestockings Cooperative, a 'niche of queer radical bookselling' in New York
- Jordan Spieth announces successful wrist surgery, expects to be ready for 2025
- Retirement planning: 3 crucial moves everyone should make before 2025
- Jason Duggar Is Engaged to Girlfriend Maddie Grace
- 1 dead, 2 hospitalized after fights lead to shooting in Clairton, Pennsylvania: Police
- Remembering the Volkswagen Beetle: When we said bye-bye to the VW Bug for the last time
Recommendation
Current, future North Carolina governor’s challenge of power
Georgia arrests point to culture problem? Oh, please. Bulldogs show culture is winning
Dusty Baker, his MLB dream no longer deferred, sees son Darren start his with Nationals
Murder on Music Row: Nashville couple witness man in ski mask take the shot. Who was he?
California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
Murder on Music Row: Corrupt independent record chart might hold key to Nashville homicide
Fire destroys popular Maine seafood restaurant on Labor Day weekend
Judge blocks Ohio law banning foreign nationals from donating to ballot campaigns