Mike Novogratz, a longtime crypto advocate and billionaire investor, believes Bitcoin could be on the verge of a breakout.
In a recent post on X, the Galaxy Digital founder suggested that Bitcoin feels poised for an upward move, despite trading alongside tech stocks for much of the year.
His comments come as Bitcoin bounces back from a midweek dip, climbing over 5% in the last 24 hours to around $83,800, according to CoinGecko. This recovery mirrors a broader rally in U.S. equities, following what has been a volatile stretch for both markets. Just days earlier, Bitcoin had dropped to a multi-month low near $74,500.
Despite its tight correlation with the stock market, Bitcoin has shown flashes of independence, especially during recent downturns. Analysts like John Bollinger have also hinted that the cryptocurrency might be forming a bottom, raising hopes for a bullish reversal.
Year-to-date, BTC is still down roughly 10%, weighed down by global economic pressures—including rising tariffs. But Novogratz remains confident in Bitcoin’s staying power, reiterating his view of it as “digital gold.”
Interestingly, he also acknowledged having growing agreement with Bitcoin critic Peter Schiff, particularly on issues related to trade imbalances. However, Novogratz challenged Schiff to finally recognize Bitcoin’s evolution into a legitimate macro asset—something that, he said, few expected it to achieve.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/bitcoin-eyes-recovery-as-galaxy-digitals-mike-novogratz-hints-at-new-rally/