You won’t believe it! Mike Novogratz, the big cheese at Galaxy Digital, spilled some major insights to Bloomberg TV about the financial scene. Brace yourself for good news about assets like bitcoin, gold, and silver because apparently, they’re on the rise. Why? Well, it seems the Federal Reserve is changing its tune from a strict stance to a more lenient one. Novogratz thinks this shift will unleash some serious excitement, calling it the release of “animal spirits” in the financial markets. Oh, and guess what? The US dollar is already on a downward spiral as folks bet on this Fed pivot.
Novogratz isn’t just stopping there. He’s all in on the euro, Australian dollar, and Brazilian real. But when it comes to the Chinese yuan, he’s got some doubts due to problems in their economy.
His main game plan? He’s betting against the dollar, assuming the US economy chills out, inflation takes a breather, and the Fed starts slashing rates.
But hold onto your hats because he’s super hyped about gold! If it locks in above $2,000 for a few weeks, he believes it’s headed for the stars. Silver’s not left out either; it seems like it’s coiled up and ready to pop, according to Novogratz.
He’s pretty confident that if the Fed puts a cap on rate hikes and begins cutting, it’s going to be a golden age for gold, silver, and bitcoin.
And get this—there’s more to the bitcoin story. Novogratz expects it to shoot past its previous highs. He’s eyeing factors like potential approvals for spot bitcoin ETFs, a shortage of sellers, and the upcoming halving cycle.
“It’s all set up for an incredible ride,” he reckons.
Oh, and mark your calendars for 2024! Novogratz predicts it’s going to be an election year filled with uncertainty, which could be another push in bitcoin’s favor. And why did people even start diving into bitcoin in the first place? Well, according to him, it’s because the US, Europe, and Japan are still juggling their financial issues and haven’t quite got their acts together yet.
