Galaxy Digital founder and CEO Mike Novogratz appeared on CNBC's Squawk Box to discuss the company's third-quarter results, the overall state of the crypto market, and the Bitcoin price outlook.
Novogratz stated that Bitcoin is likely to trade in the $120,000 to $125,000 range by the end of the year. The veteran investor noted that macroeconomic conditions and growing institutional demand support price stability.
The Galaxy CEO also mentioned that volatility in the crypto market has decreased and investor confidence is on the rise again, emphasizing that 2025 could be a year of strong growth for the crypto industry.
"Bitcoin is still on track to become digital gold. A price hold above this band in the coming months could signal the start of a new bull cycle," Novogratz said.