- November 18, 2020
- Posted by: Bastion team
- Category: Markets
- Mike Novogratz said he expects the price of Bitcoin to hit $65,000 and told Game of Thrones star Maisie Williams to buy the digital token.
- Williams conducted a Twitter poll on Monday about whether she should buy Bitcoin. It caught the attention of several prominent names including Novogratz, Elon Musk, and major cryptocurrency investor Barry Silbert.
- Bitcoin climbed as much as 4.8% to $18,480 on Wednesday to a fresh three-year high, before tumbling by $1,000 during Asian trading.
- Bitcoin’s market capitalization has hit a new all-time high of $337 billion, surpassing a previous record of $328 billion set in December 2017.
- Visit Business Insider’s homepage for more stories.
The actor took a poll Monday on whether she should buy the world’s most popular cryptocurrency. Novogratz responded by saying he expects the price to first hit $20,000 before it gets to $65,000 due to a “network effect” in which there are a ton of new buyers and low supply. “So YES, buy it,” he said.
Bitcoin surged as much as 4.8% to $18,480 on Wednesday to a three-year high, before tumbling by $1,000 in mid-afternoon Asian trading. Bitcoin began to surge in October around the time PayPal announced it would allow its users to buy, sell, and hold the cryptocurrency on its network. The price has gained 70% since the start of last month.
Novogratz has long advocated the use of Bitcoin and said he expects its price to keep ripping higher as more people warm up to the idea of adding it to their portfolios.
Even though Novogratz advised Williams to buy, the overall response to her poll showed that the verdict was against him.
Of the almost 900,000 votes on her poll as of 03:30 a.m. ET on Wednesday, about 53% of respondents were against investing in Bitcoin.
Bitcoin’s market capitalization has hit a new all-time high of $337 billion, eclipsing a previous record of $328 billion set in December 2017, according to data from Coin Gecko.
As for crypto skeptics, hedge fund manager Ray Dalio admitted on Tuesday that he “might be missing something” about Bitcoin, and said he still sees reasons why he doesn’t expect it to become an everyday currency.
Bastion Balance Seoul, Korea.