Galaxy Digital CEO Mike Novogratz Calls For Global Trust In Bitcoin ‘Without A Gun To Their Head’
By Benzinga
According to Mike Novogratz, CEO of Galaxy, the value of Bitcoin (CRYPTO: BTC) comes from the belief of its users, including people like BlackRock’s Larry Fink, Business Insider reports.
He stated, “180 million people around the world, without a gun to their head, take their hard-earned savings and store it in this community of people that run this technology, you know, called bitcoin.”
See Also: Bitcoin Prices In Limbo But Analysts Identify 3 Potential Catalysts For Growth
BlackRock’s Support for Bitcoin: Novogratz believes that the recent shift in institutional support for Bitcoin, exemplified by BlackRock’s application to establish a Bitcoin spot ETF and Fink’s bullish remarks on digital tokens, could help Bitcoin surpass its $69,000 record set in 2021.
Regulatory Clarity and New Entrants: Novogratz also highlighted Ripple’s (CRYPTO: XRP) recent court victory against the Securities and Exchange Commission and the emergence of Worldcoin, a cryptocurrency developed by OpenAI co-founder Sam Altman, as potential factors that could further boost Bitcoin’s value.
Read Next: Bitcoin, Ethereum, Dogecoin Tumble After SEC Lawsuit Against Internet Marketer Richard Heart
Photo by Andreanicolini on Shutterstock
Engineered by Benzinga Neuro, Edited by
Pooja Rajkumari
The GPT-4 Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you.
Learn more.
