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Galaxy Digital CEO Mike Novogratz Calls For Global Trust In Bitcoin 'Without A Gun To Their Head'

Published 01/08/2023, 09:49
Updated 01/08/2023, 11:10
© Reuters Galaxy Digital CEO Mike Novogratz Calls For Global Trust In Bitcoin 'Without A Gun To Their Head'

Benzinga - According to Mike Novogratz, CEO of Galaxy, the value of Bitcoin (CRYPTO: BTC) comes from the belief of its users, including people like BlackRock’s Larry Fink, Business Insider reports.

He stated, “180 million people around the world, without a gun to their head, take their hard-earned savings and store it in this community of people that run this technology, you know, called bitcoin.”

See Also: Bitcoin Prices In Limbo But Analysts Identify 3 Potential Catalysts For Growth

BlackRock’s Support for Bitcoin: Novogratz believes that the recent shift in institutional support for Bitcoin, exemplified by BlackRock’s application to establish a Bitcoin spot ETF and Fink’s bullish remarks on digital tokens, could help Bitcoin surpass its $69,000 record set in 2021.

Regulatory Clarity and New Entrants: Novogratz also highlighted Ripple’s (CRYPTO: XRP) recent court victory against the Securities and Exchange Commission and the emergence of Worldcoin, a cryptocurrency developed by OpenAI co-founder Sam Altman, as potential factors that could further boost Bitcoin’s value.

Read Next: Bitcoin, Ethereum, Dogecoin Tumble After SEC Lawsuit Against Internet Marketer Richard Heart

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