Galaxy Digital CEO Mike Novogratz hopes institutional investors will soon start massively switching to BTC.
Otherwise, we will not be able to see a new rise in the value of crypto, the businessman said in an interview.
Novogratz is on the list of ardent supporters of BTC. He recently said that by the end of 2020, BTC would be able to test the values at the level of 20,000. This time the billionaire also predicted a new phase of asset strengthening.
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However, he clarified that the rally is possible in case of the institutional adoption of Bitcoin. Many large players already perceive cryptocurrency as digital gold, which is absolutely a positive signal for the entire blockchain industry.
According to Novogratz forecasts, in the next one to two years, the transition of institutions to BTC will become massive.
One of the striking examples of the penetration of huge capital into bitcoin is Paul Tudor Jones, said Novogratz. He also added that if the entry of financiers into BTC is inactive, then Galaxy Digital is going to face great difficulties.