Bitcoin could rise to $100,000 by the end of 2021 if other companies follow the example of electric-vehicle maker Tesla. Galaxy Digital founder Mike Novogratz said in an interview with Bloomberg.
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The billionaire called Elon Musk a genius for listening to people and taking into account the interests of the youth. In his view, other organisations will invest in the leading cryptocurrency to hedge inflation risks.
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\”You will see that every company in America will start doing the same thing,\” the billionaire said.
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On Monday, February 8, Elon Musk’s company announced an investment of $1.5 billion in Bitcoin. Tesla has hinted that in the future they may integrate the leading cryptocurrency as a means of payment for its products.
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Bitcoin price rose to $44,800, and on February 9 tested the $48,000 mark. As of writing, the coin was trading around $46,320 on the Bitstamp exchange.
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Four-hour BTC/USD chart for Bitstamp from TradingView.
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Earlier, Novogratz called Bitcoin lucrative and a reliable investment. In his view, everyone should allocate 2-3% of their net worth to the leading cryptocurrency.
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Analysts at RBC Capital Markets urged Apple to follow Tesla’s example and buy Bitcoin.
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