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Bullish Bitcoin Signal Focused on $140,000 Target
Galaxy Digital executives have expressed an optimistic outlook on Bitcoin's future value. Michael Novogratz suggested that Bitcoin could reach $140,000 by the end of next year, explaining that such an increase would be supported by institutional capital inflows and wealth redistribution within the United States.
**Current Market Assessment**
In a recent conversation with Skybridge Capital's Anthony Scaramucci, Michael Novogratz described the current market situation as a 'recovery phase.' He particularly emphasized that the $100,000 level acts as a psychological resistance for investors, and breaking through this barrier will be crucial for future upward momentum.
**Confidence in Corporate Bitcoin Strategy**
Concerns previously raised about MicroStrategy's Bitcoin-focused strategy appear to be alleviated. Michael Novogratz assessed that Michael Saylor, Chairman and CEO, holding $1.4 billion in cash assets, provides ample flexibility. This indicates that the company can manage its debt situation without urgently selling its Bitcoin holdings.