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Bitcoin would hit $ 100,000 and all corporations would undertake it: Novogratz

The cryptocurrency hit an all-time high of $ 44,795 after Tesla bought $ 1.5 billion of the token with corporate reserves.

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February
9, 2021

1 min read

This article has been translated from our Spanish edition using AI technologies. Errors can occur due to this process.

The founder of the cryptocurrency investment firm Galaxy Digital, Michael Novogratz, predicts that Bitcoin will more than double to $ 100,000 by the end of the year. This spurred on as more and more companies allow customers to use the token to make purchases.

The cryptocurrency hit an all-time high of $ 44,795 after Tesla bought and announced $ 1.5 billion of the token with cash reserves from companies to enable the purchase of electric cars.

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To discuss this situation, Bloomberg Television reached out to Novogratz, who said, "You will see that all companies in the US are doing the same thing."

It's not just Tesla who are starting to invest in cryptocurrencies. Even the city of Miami is looking into adding it to its balance sheet, according to Bloomberg.

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