Mike Novogratz: BlackRock Can Exponentially Change BTC and Crypto

Mike Novogratz – the man behind the Galaxy Digital hedge fund and one of the biggest bitcoin fans you’ll ever find – says the most important crypto event this year has come in the form of Larry Fink and his company’s (BlackRock) bitcoin-based exchange-traded fund (ETF) application.

BlackRock and Its Sudden Crypto Agenda

In a recent interview, Novogratz commented that the application has the potential to push bitcoin to a new high and make it larger than it’s ever been in its 14-year history. He said:

I think the most important thing that happened this year in bitcoin is Larry Fink. He got ‘orange-pilled,’ as we say. Orange-pilled is when you take a non-believer and you make him a believer in bitcoin, and Larry was a non-believer. Now he says, ‘Hey, this is going to be a global currency.’

BlackRock recently applied for a bitcoin ETF, a move that shocked the world and many crypto fans. The idea that the SEC would ever approve a bitcoin or crypto-centered ETF has become a bit taboo over the years given the high level of companies that have tried and failed to produce such a project. However, BlackRock, in many ways, is different according to analysts.

They claim that given the company’s status as a standard financial firm, the enterprise has a much better and bigger chance of getting a greenlight or at least solid consideration from the SEC. They say that given its size and scope, the company is likely to grease the wheels with the financial agency unlike any other firm has.

Thus far, the company’s application has been sent back for revisions, though the company was quick to make the alterations requested and resubmit the documentation, which is now in the SEC’s hands for an additional look.

Novogratz is particularly impressed with Fink’s sudden attitude change. Back in 2017, just six years ago, the BlackRock head dismissed the notion of bitcoin and called the asset a major fad. However, he appears to have switched his tune a bit. The Galaxy Digital executive and billionaire mentioned:

Value comes from when people believe there’s value, and now we have this preponderance of evidence. 180 million people around the world, without a gun to their head, take their hard-earned savings and store it in this community of people that run this technology, you know, called bitcoin.

In the same conversation, Novogratz offered his thoughts on World Coin, which has stirred controversy in recent weeks thanks to its technology requiring eyeball scans of users.

What About World Coin?

The asset was created by Sam Altman, and Novogratz thinks it’s a bad idea to dismiss him and his digital invention outright. He stated:

I think the price potentially can go a lot higher because there’s an AI-hype cycle.

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