Billionaire investor Mike Novogratz said he remains bullish on cryptocurrencies despite continued macroeconomic uncertainty, citing increased participation from both retail investors and Wall Street firms.
Novogratz, founder and CEO of Galaxy Digital, told SkyBridge Capital founder Anthony Scaramucci that recent tariff headlines and geopolitical developments have created short-term risk and weakness in crypto prices.
Still, Novogratz says things are looking up.
“Crypto trading has gotten better this year, and it’s broad ETF participation, retail. We know that Wall Street is moving into crypto, so I’m bullish on crypto.”
Novogratz said Bitcoin is stabilizing and is looking for BTC to clear important technical thresholds.
“Again, I would caution you that unless you withdraw $100,000 or $104,000 and stay there for a week or two, you won’t get that Wolf of Wall Street bullishness that I’m so excited about.
That was a big level to break. So, technically, Bitcoin is still in this consolidation phase, which could last for the next few months or even longer. Therefore, I have a core long position in the company. Full disclosure, I’m going to fist pump both of them until I withdraw $100,000, $104,000. ”
At the time of this writing, BTC is trading at $89,760.
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