24/7 Cryptocurrency News

Mike Novogratz: Bitcoin (BTC) Will Win The Battle Of Regulation

Galaxy chief executive officer Mike Novogratz always maintained that long term Bitcoin (BTC) accumulation could pay rich dividends.
Published by
Mike Novogratz: Bitcoin (BTC) Will Win The Battle Of Regulation

Michael Novogratz, the chief executive officer of Galaxy Investment, is not too worried about the regulatory pressure around Bitcoin (BTC). The crypto investor has been a strong advocate of Bitcoin from a long time now. In fact, he is one of the few early investors in the top crypto asset. In a latest, the CEO reiterated his confidence on BTC and its capabilities in getting past the regulatory framework.

Advertisement

Mike Novogratz: The Bitcoin Maverick

Despite the adverse macroeconomic scenario, Novogratz expects BTC to eventually find itself acceptable for regulators. Speaking to CNBC on Tuesday, the investor recalled the comparison of Bitcoin with gold. Joe Kernen asked him about the times when BTC was nearly the same price as gold. Bitcoin is still at $19,000 level while gold is still at $1,600. Reacting to this, Novogratz said people were buying these assets to fight inflation. He added that both gold and BTC could benefit if the current macro trend reverses.

“In the long run, gold will win and Bitcoin will win if the central bankers and governments revert back the interest rate rise.”

Mike Novogratz always maintained that long term Bitcoin accumulation could pay rich dividends. Meanwhile, BTC is showing disappointing trends with continuous price dips. In the last three months, the top cryptocurrency dipped below $20,000 for as many as five times. As of writing, BTC price stands at $18,978.41, down 1.98% in the last 24 hours, according to price tracker CoinMarketCap. The share of market value among major cryptocurrencies has seen a huge shift in past few months. From a recent high of around 48% in June, Bitcoin’s dominance in the crypto space is currently down to 41%.

Advertisement

No Big Push For BTC Anytime Soon?

Recently, Novogratz said BTC would not have a price rally in the short term, thanks to slowing down on institutional fund flow. However, existing institutional investors in Bitcoin will not back off due to the low demand, he added at the time.

Advertisement

Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle

Avalanche Treasury Co., in partnership with Mountain Lake Acquisition Corp., has unveiled a $675 million…

October 2, 2025
  • 24/7 Cryptocurrency News

Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings

Nasdaq-listed VivoPower has stepped up its digital treasury goals with a fresh capital raise aimed…

October 2, 2025
  • 24/7 Cryptocurrency News

Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy

Solana increased in price by 5% to approximately $219 following a $2 billion Solana treasury…

October 2, 2025
  • 24/7 Cryptocurrency News

XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization

The XRP Ledger (XRPL) has launched the Multi-Purpose Token (MPT) standard, designed to simplify and…

October 1, 2025
  • 24/7 Cryptocurrency News

SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown

The U.S. Securities and Exchange Commission has announced plans to streamline its operations amid the…

October 1, 2025
  • 24/7 Cryptocurrency News

Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility

Pi Network has now added two new features to its Testnet. These are a decentralized…

October 1, 2025