Long an advocate of Bitcoin, the entrepreneur also believed United States president Donald Trump would lose the upcoming presidential election by at least 10 million votes.
Mike Novogratz, co-founder of cryptocurrency merchant bank Galaxy Digital, made the “$btc finishes over 12k”, remark as part of his new year predictions in a tweet on Dec. 28.
Bitcoin will hit $12,000 in 2020 as markets recover from fresh suppression, one of its most outspoken investors has said.
Novogratz bets on Trump and BTC
As Cointelegraph reported, Trump is a critic of cryptocurrency, in July making public statements about Bitcoin’s allegedly dubious nature.
Novogratz added that if Trump won, he would honor a bet he made with another Twitter user worth a princely single unit of largest altcoin, Ethereum (ETH) – around $130.
How bullish is too bullish?
Novogratz has had a mixed run when it comes to Bitcoin price predictions in 2019. Throughout the year, he rode sentiment to suggest a continuation of bullish performance. In early May, when BTC/USD traded at around $6,000, he said he envisaged the pair topping $20,000 for a second time at some point in the following eighteen months.
While the latest pledge seems to tone down the enthusiasm, Novogratz is not alone in believing major changes will take place next year in the market. As Cointelegraph noted, various technical metrics now point to the fact that Bitcoin has already begun a bullish shift – even as prices remain at around $7,000.
Others, meanwhile, have refused to stop at a $12,000 end-of-year valuation. Earlier in December, infamous Bitcoin bull John McAfee once again claimed that by 2021, Bitcoin would be worth $1 million. In an ironic twist, McAfee added he would stop devoting so much time to cryptocurrency promotion in order to run for president alongside Trump – despite claiming he had no chance of winning.
Bitcoin News Summary – September 23, 2019
Financial giant, Wells Fargo is developing a U.S. dollar-linked stablecoin that will run on the firm’s blockchain platform. Dubbed Wells Fargo Digital Cash, the tokenized dollar will be used in a pilot for internal settlement across the company’s business.
Snowden’s new book, “Permanent Record”, sheds further light on global surveillance by US agencies. In the wake of its release, the US government is suing Snowden for not obtaining clearance from the CIA or NSA for information revealed in the book. This week, Snowden tweeted regarding the lawsuit, saying that “this is good for Bitcoin.”
About 6,000 retail stores in The Philippines, including all 7-Elevens, are now selling Bitcoin. The new service is offered in partnership with crypto firm, Abra. Filipinos will be able to buy Bitcoin for cash, in amounts between 500 and 100,000 Philippine pesos, at a 2% fee.
The recent high gas prices on the Ethereum network stem from a single smart contract. The contract is shown to belong to “Fair Win”, a Chinese gambling contract said to be a Ponzi scam, and has used nearly $1 million in gas over the last 30 days.
And finally, just like Iran and Venezuela, North Korea is creating a national cryptocurrency as a way to counter severe economic sanctions. Details are scarce at this time but it seems the new coin will be a separate asset, and not linked to the North Korean won.
