The founder of cryptocurrency bank Galaxy Digital, Mike Novogratz, predicted in an interview with New York Magazine that Ethereum’s price will rise to the $5,000 level.
According to him, a combination of three factors is contributing to this:
- payment applications and stabelcoins;
- decentralised finance;
- non-interchangeable tokens (NFT).
“And you start to believe that it [Ethereum] is going to become a supercomputer that authenticates everything that happens. […] It’s almost 100% certain that this [Ethereum price growth] is going to happen – it’s just maths,” Novogratz explained.
It is dangerous to make predictions “at the top of the market”, he says. However, the investor is confident that the price of Ethereum will reach the $5,000 mark.
Novogratz also said that his portfolio is 85% cryptocurrencies. He urged investors to be careful and advised them to lock in some profits to buy a house, a car or “at least a cool new jacket”.