Billionaire investor Mike Novogratz believes Ethereum has even more upside potential despite skyrocketing earlier this month to a new all-time high of $ 4,362. Founder and CEO of digital asset company Galaxy Digital spoke about the factors that keep him optimistic about Ethereum: “Three factors have successfully come together. We already had payments and stablecoins, which gave a good boost to Ethereum last year.
But then suddenly the sector of decentralized finance (DeFi) and NFT (non-fungible tokens) appeared, and it was based on Ethereum. These areas have shown explosive growth rates. And now you are already starting to believe that it will be a supercomputer that authenticates all processes. " Novogratz is confident that the top smart contract platform has the potential to grow by more than 30% from current levels: “There is almost 100% confidence in growth and Ethereum is likely to go much higher. It is dangerous to make high predictions. But can Ethereum get to $ 5,000? Sure".
Amid the explosive growth of the broader cryptocurrency market, Novogratz noted that he has more than doubled his investments in the emerging sector: “The last five months have shocked many holders in terms of what percentage of their net worth is in cryptocurrency.
I think I have about 85% in cryptocurrency.
People need to understand that this will not last forever. This transition from literally nothing to a new asset class happens only once.
Crazy growth of 30, 40, 100 times is abnormal and this does not happen often. Be sensible, sell some coins and buy yourself a house (if you can afford it), or a car, or at least a nice new jacket. "