The director of Galaxy Digital with an optimistic forecast for the price of Bitcoin

Mike Novogratz, a prominent figure in the cryptocurrency world, shared his bold views on Bitcoin during an interview with Bloomberg. He suggested that if the United States recognized Bitcoin as a strategic reserve asset, its value could rise to $500,000.

This prediction is in line with recent remarks by President-elect Donald Trump, who pledged to make BTC part of the country's official reserve assets and said the government would end the sale of the flagship digital asset. However, Novogratz tempered his optimism, noting that the likelihood of such a change occurring remains slim.

He also pointed out that if the US accepts Bitcoin as a reserve asset, other countries are likely to follow suit and stock up on the cryptocurrency as well. While Novogratz has long been a supporter of BTC, his relationship with the crypto market has been tumultuous.

He previously expressed a strong belief in Terra's (LUNA) ecosystem, even getting a tattoo to mark his belief – only to see it collapse soon after.