- Mike Novogratz on Monday said he expected the price of bitcoin to hit $65,000 and told the “Game of Thrones” star Maisie Williams to buy the digital token.
- Williams conducted a Twitter poll on Monday about whether she should buy bitcoin. It caught the attention of several prominent names, including Novogratz, Elon Musk, and the major cryptocurrency investor Barry Silbert.
- Bitcoin climbed on Wednesday by as much as 4.8%, to $18,480 and a three-year high, before tumbling by $1,000 during Asian trading.
- Bitcoin’s market capitalization recently hit a high of $337 billion, surpassing a record of $328 billion set in December 2017.
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The actor took a poll on Twitter on whether she should buy bitcoin, the world’s most popular cryptocurrency. Novogratz responded by saying he expected the price to hit $20,000 before getting to $65,000 because of a “network effect” in which there are a ton of new buyers and low supply.
“So YES, buy it,” he said.
Bitcoin surged on Wednesday by as much as 4.8%, to $18,480 and a three-year high, before tumbling by $1,000 in midafternoon Asian trading. Bitcoin began to surge in October at about the time PayPal announced it would allow its users to buy, sell, and hold the cryptocurrency on its network. The price has gained 70% since the start of last month.
Novogratz has long advocated bitcoin and said he expected its price to keep increasing as more people warm up to the idea of adding it to their portfolio.
Even though Novogratz advised Williams to buy, more people who responded to her poll disagreed. Of the almost 900,000 respondents as of 3:30 a.m. ET on Wednesday, about 53% said no to investing in bitcoin.
Bitcoin’s market capitalization recently hit a high of $337 billion, eclipsing a record of $328 billion set in December 2017, according to data from Coin Gecko.
As for crypto skeptics, the hedge-fund manager Ray Dalio acknowledged Tuesday that he “might be missing something” about bitcoin and said he still saw reasons it wouldn’t become an everyday currency.
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