“If it doesn’t go up now, I’m not sure when it will.” Those were the words of Galaxy Digital founder and Bitcoin bull Michael Novogratz, who appeared earlier today (April 2, 2020) on CNBC.
He teased the interview on Twitter (see below) and he didn’t disappoint.
After talking about the feeling that “we’ve crossed a Rubicon and people think money grows on trees,” then saying we’ve “debased fiat,” co-host Wilfred Frost asked Novogratz to pick a number.
“We should have doubles within six months. We really should have…Maybe, (by the) end of the year, retesting the old highs.”
But…Wait a Minute…
Co-host Sara Eisen was taken aback by these comments, challenging Novogratz. “Mike, the problem with your theory — sorry to cut you off — is everyone wants dollars now…Dollars are still in demand and are valuable.”
Novogratz countered by saying “that’s always the first reaction…then all of a sudden, people are saying, ‘what did they do with the dollar?'”
Novogratz also asked whether or not the next stimulus package will lead to more questions about the dollar — and whether trillions more will negatively impact the dollar against Bitcoin.
Not a bad time to get into the market, maybe, with the price of Bitcoin today jumping 7-plus percent.