Founder of Galaxy Digital: Although most people are selling GBTC, they will invest in other ETFs. Bitcoin will rise within 6 months
BTCdata's Chief Architect Chris J Terry wrote that it appears BTC prices will continue to remain stable/fall until GBTC liquidation is completed, with $25 billion in sell-offs expected in the coming weeks. The decision by Grayscale to maintain a 1.5% ETF fee rate will be considered the biggest strategic mistake in cryptocurrency history. Galaxy Digital founder Mike Novogratz disagrees with this view. He believes that while people may sell off GBTC, most will instead invest in other ETFs. Don't just focus on individual trees, but see the forest as well. Now, it will be much easier for the younger generation to purchase ETFs and they can also leverage up to 4x5 times. This selling situation will come to an end and Bitcoin will rise within six months.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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