TechFlow news, according to Bloomberg, Mike Novogratz, founder of Galaxy Digital Holdings Ltd., expects bitcoin to rise by the end of this year and predicts the U.S. will approve a bitcoin exchange-traded fund (ETF). He said bitcoin prices could fluctuate between $28,000 and $32,000, and digital currencies may climb further after the Federal Reserve's decision on interest rate hikes.
Novogratz believes approval of a bitcoin ETF is likely, with firms such as BlackRock and Vanguard beginning to promote bitcoin to investors who previously had no access to this asset class. He said if this happens, it would serve as a "stamp of approval" from the SEC and the U.S. government, granting bitcoin legitimate asset status.
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