Key takeout
- Galaxy Digital CEO Mike Novogratz predicts that Ethereum could outperform Bitcoin over the next three to six months.
- Novogratz said Bitcoin is currently in price discovery, with $150,000 being a reasonable upward target of $150,000.
Galaxy Digital CEO Mike Novogratz believes that Ethereum could have an advantage over Bitcoin over the coming months due to limited market dynamics, institutional interest and supply.
Speaking to CNBC’s “Squawk Box” on Thursday, Novograts said Ethereum is catching up quickly and could enter the realm of price discovery if it breaks past the $4,000 level.
“The Etheric Stories are really powerful,” explained Novogratz. “And now we have not only one, but two major finance companies and another, and they raise capital and buy ether every day.
“Ethereum has many opportunities to surpass Bitcoin in the next three to six months,” he added, noting that he owns both Ethereum and Bitcoin.
In Bitcoin’s outlook, Novogratz said its digital assets could rise to $150,000. He said the upward trajectory is likely to continue as long as the current macro and policy narrative is retained, including Trump’s continued push for low interest rate cuts.
“We’re making price discoveries on a lot of these things,” Novograts said. “Each of 50 people seems like a decent target to me.”
“If Trump changes his mind and says the economy doesn’t need a lower rate, that’s going to change my paper,” Novograts pointed out. “But until that happens, I think we’re heading towards one 50.”
