Mike Novogratz, one of the billionaire names well-known in the cryptocurrency world, made an interesting prediction about Bitcoin during a live broadcast on a program he attended on Bloomberg.
According to Novogratz, if the US does indeed make Bitcoin one of the country's strategic reserve assets, the price of Bitcoin could reach $500,000.
US President-elect Donald Trump recently made a statement promising to make Bitcoin one of the US reserve assets as part of his election promise. In addition, he also assured that the US government would no longer sell BTC.
On the other hand, Novogratz said that the scenario of the US making BTC a reserve asset is unlikely to happen. In addition, he added that if it does, other countries will also have to buy BTC as a reserve asset.
Novogratz has a complicated relationship with the crypto world. Always a BTC bull, he was recently praising the Terra (LUNA) ecosystem before it crashed, and even got a Terra tattoo on his arm.
*This is not investment advice.