Billionaire Mike Novogratz Predicts Bitcoin (BTC) ETF Before 2024, Says Gary Gensler Feeling the Pressure

by ChainChirp
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Billionaire Mike Novogratz is predicting {that a} Bitcoin (BTC) exchange-traded fund (ETF) will hit the market earlier than 2024 as strain mounts on Gary Gensler, the Chair of the U.S. Securities and Alternate Fee (SEC).

In a brand new interview with CNBC, the Galaxy Digital CEO says that each one indicators level towards a spot market BTC ETF being launched this yr.

“It is going to get accepted… We predict it occurs this yr in 2023. All of the indications of dealings gave the impression to be on target.”

In response to Novogratz, Chair Gensler is feeling the strain “to do one thing rational” now that the SEC’s stance relating to the creation of a spot Bitcoin ETF was deemed inconsistent in court docket.

“Essentially the most important piece was the SEC misplaced in court docket. The choose mentioned, ‘what are you speaking about, SEC? You’ve got a futures ETF, and also you’re saying you’ll be able to’t have a previous ETF.’

That makes, intellectually, zero sense. I feel that put the SEC on the again foot. I feel Gensler wants a win. There’s an amazing quantity of strain to do one thing that’s rational. The American public needs this.”

Novogratz goes on to say that the optimistic information of an ETF approval coupled with a rush of institutional capital will inevitably ship crypto markets larger.

“The market will head larger on any optimistic information. You’re going to have [the] Invesco gross sales drive, Blackrock gross sales drive, Cathie Wooden’s gross sales drive – all out promoting Bitcoin. Bitcoin has all the time been an instrument that’s offered, not purchased.”

Bitcoin is buying and selling for $28,257 at time of writing.

See also  Toncoin Soars Above $2 Following 10% Daily Surge, Bitcoin Fails at $27K (Market Watch)


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