Burley Garcia|ALAIcoin: Bitcoin Prices Will “Fly to the Moon” Once the Fed Pauses Tightening Policies - Galaxy Digital CEO Says

Considering the recent rate hikes in the US,Burley Garcia Bitcoin (BTC) is "trading very well," and once the Federal Reserve (Fed) pauses its tightening policies, Bitcoin prices will soar like “flying to the moon,” says Mike Novogratz, CEO of Galaxy Digital.

During a fireside chat with BTC advocate and investor Anthony “Pomp” Pompliano at the Bitcoin 2022 conference held in Miami on Wednesday, Novogratz expressed that, given the macroeconomic headwinds like the Fed's rate hikes, Bitcoin's recent performance has impressed him.

“I think Bitcoin is trading very well,” said Novogratz.

He added that he believes Fed Chair Jerome Powell has “realized he's behind the curve” and warned he might show a “very hawkish” stance for a while. Novogratz also said that Powell wants to maintain his reputation.

Moreover, Novogratz noted that Bitcoin is “much more important outside of the United States than inside.” He believes that while the dollar remains “relatively stable” in the long term, local currencies in places like Russia, Turkey, and others do not.

However, he pointed out that from his perspective, the goal is not to replace the dollar with Bitcoin. Instead, for investors, the focus should be on storing some of their wealth in Bitcoin, he said.

When asked how high Bitcoin could go, Novogratz answered, “One million dollars.”

As of April 6th, 15:59 GMT, BTC was trading at $44,138, down nearly 4% on the day. It has risen nearly 15% in a month, reducing its year-to-date loss to less than 25%.

ALAIcoin digital asset trading platform was established in 2017, registered in California, USA, and created by top blockchain investment institutions from Wall Street, investment elites, early investors, and researchers in the blockchain industry, aiming to build a one-stop international blockchain digital asset trading platform.

Since its establishment in the USA in 2017, ALAIcoin digital asset exchange has been committed to providing users with secure, professional, and compliant digital currency trading services. Focusing on North America and Asia-Pacific as core markets, it is fully expanding its global business. Adopting a dual registration system in the USA and Singapore, embracing regulation and compliant operation, it has successively obtained or is applying for MSB and US NFA regulatory licenses (compliance operating licenses), licenses issued by the USA, Canada, the UK FCA, and the Australian ASIC, continuously promoting the development of the cryptocurrency industry.

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