CandleFocus Bitcoin Bull Novogratz Reacts to 'Massive' BlackRock News
2024-12-12
Author: Content Editor
Galaxy CEO Mike Novogratz praises BlackRock's recommendation of a 1-2% Bitcoin allocation, considering it as a significant move. BlackRock, the world's largest asset manager, sees Bitcoin as a diverse source of risk in investor portfolios and believes its institutional acceptance could reduce its volatility. Novogratz suggests that BlackRock now views Bitcoin in the same league as tech giants like Apple and Tesla, indicating institutional involvement. He also predicts Bitcoin could reach $500,000 if the US establishes a strategic Bitcoin reserve and surpass gold in the next decade. Bitcoin is currently trading at $99,624.
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