Speaking during CNBC’s Squawk Box show, Novogratz said the entry of more institutions into the crypto sector will be a catalyst for growth. He further acknowledges that the sector is still in the infancy stage. His sentiments come after bitcoin attained a new all-time high of above $64,800 on April 13, 2021, while maintaining the above $1 trillion market cap. According to Novogratz, with a cumulative market capitalization of about $2 trillion, the cryptocurrency sector growth will soon account for a significant share of the global wealth.
Coinbase listing boasts bitcoin’s value
Bitcoin attained the new record price after cryptocurrency exchange Coinbase listed on Nasdaq. Coinbase shares debuted at $381, although Nasdaq had allocated a reference price of $250. Following the listing, Novogratz views it as an important milestone for the cryptocurrency sector. He notes that investors should not be concerned about Coinbase’s share price but consider what the move means for the crypto world. Novogratz, a bitcoin bull, has predicted that the asset might hit $100,000 by the end of the year. In three years, he projects the value to hit $500,000. Watch the video: Coinbase direct listing is the ‘Netscape moment’ of the crypto economy: Novogratz
