Galaxy Digital founder, Mike Novogratz, believes that the approval of a spot Bitcoin exchange-traded fund (ETF) would signify regulatory approval and government support for Bitcoin. He sees the participation of major investment firms like BlackRock and Invesco as a sign of cryptocurrency adoption. Novogratz also suggests that the approval of a Bitcoin ETF would serve as an easy entry point for many investors who are still hesitant about investing in cryptocurrencies. However, he acknowledges the SEC’s strict stance on crypto and admits that the approval process has been challenging. Despite this, Novogratz predicts that the price of Bitcoin will reach new highs by the end of the year.
AI Sentiment: Positive