{"id":59732,"date":"2022-04-07T10:47:19","date_gmt":"2022-04-07T07:47:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=59732"},"modified":"2025-09-04T23:31:05","modified_gmt":"2025-09-04T20:31:05","slug":"novogratz-sets-condition-for-further-bitcoin-growth","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/novogratz-sets-condition-for-further-bitcoin-growth\/","title":{"rendered":"Novogratz sets condition for further Bitcoin growth"},"content":{"rendered":"<p>Bitcoin is set to rally again once the <span data-descr=\"U.S. Federal Reserve System\" class=\"old_tooltip\">the Fed<\/span> pauses its monetary-policy tightening. This view was voiced by Galaxy Digital founder Mike Novogratz at the Bitcoin 2022 conference in Miami, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-06\/novogratz-says-bitcoin-will-go-to-the-moon-once-fed-pauses?sref=AACmJ2tc\">Bloomberg<\/a>.<\/p>\n<p>In his forecast, the central bank will stay \u201cvery aggressive\u201d for some time due to high inflation. In the near term, the Fed is expected to raise rates by another 50 basis points, he says.<\/p>\n<p>But as the economy slows, the Fed will retreat and \u201cBitcoin will take off to the moon,\u201d Novogratz believes. He repeated forecasts that digital gold will reach $500,000, and ultimately $1 million.<\/p>\n<p>However, the coin could reach these targets with \u201cstability in the West,\u201d the billionaire noted.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cBefore going to bed I pray that the managers of the American economy do not mess up. I really pray that the dollar stays strong and that Bitcoin does not rush toward infinity. Because the opposite would mean the collapse of the Western world,\u201d said Novogratz.<\/p>\n<\/blockquote>\n<p>According to him, in the future the cryptocurrency will be used not for payments but as a store of value. The coin is increasingly becoming part of institutional portfolios, he added.<\/p>\n<p>Novogratz&#8217;s forecasts about the Fed&#8217;s policy were borne out in the published <a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/fomcminutes20220316.pdf\">\u043f\u0440\u043e\u0442\u043e\u043a\u043e\u043b\u0435<\/a> of the Federal Open Market Committee&#8217;s March meeting. The central bank, for the first time since December 2018, <a href=\"https:\/\/u1f987.com\/en\/news\/fed-raises-rates-for-first-time-since-2018-bitcoin-and-sp-500-rise\">raised the rate by 25 basis points<\/a>.<\/p>\n<p>The document shows that many Fed officials favored a 50 basis-point hike immediately, which could be reflected in decisions at the next meeting on May 4\u20135.<\/p>\n<p>Earlier in March, Novogratz <a href=\"https:\/\/u1f987.com\/en\/news\/mike-novogratz-says-bitcoin-is-insurance-against-government-incompetence\">described Bitcoin as an alternative to fiat<\/a> for residents of countries where authorities pursue ineffective monetary policy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is poised to surge again once the Federal Reserve pauses its monetary-policy tightening. This view was expressed by Galaxy Digital founder Mike Novogratz at the Bitcoin 2022 conference in Miami, according to Bloomberg.<\/p>\n","protected":false},"author":1,"featured_media":59733,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1303,1138],"class_list":["post-59732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-mike-novogratz","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=59732"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59732\/revisions"}],"predecessor-version":[{"id":59734,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59732\/revisions\/59734"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/59733"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=59732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=59732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=59732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}