Mike Novogratz, founder of Galaxy Digital, listed the developments that could enable Bitcoin (BTC) to reach $100,000. Bitcoin, which broke a record in March by approaching $74,000, rose 3.2% in the last 24 hours to over $71,100, according to data.
Novogratz noted that legal uncertainties in the US are slowly starting to be resolved and emphasized that an agreement in principle has been reached on the necessity of crypto legislation in the capital. The House of Representatives and the Senate rejected the SEC's SAB 121, which made it harder for financial institutions to hold cryptocurrency, but this decision was vetoed by President Biden. According to Novogratz, a future repeal of this statement could enable large banks such as the Bank of New York to offer cryptocurrency custody services. The House of Representatives also approved the Financial Innovation and Technology in the 21st Century Act last month, and according to Novogratz, the passage of this legislation will pave the way for large financial institutions such as Citibank to trade cryptocurrencies.
Commenting on the change of legal regulations in the US as “The wind that once blew backwards is now blowing from behind,” Novogratz predicted that prices will rise with the clarification of crypto legislation and the increase in institutions buying cryptocurrencies. “If we exceed the $ 73,000 level next week, we can close this year at $ 100,000 or higher,” Novogratz said.
