Cryptocurrency investment firm Galaxy Digital expects the Price of Bitcoin to more than double, reaching $ 100,000 by the end of the year, which is driving growth as more companies allow customers to use Bitcoin tokens to make purchases.
The coin price increases to a record $ 44,795 on Monday after Tesla Inc. bought a $ 1.5 billion token from its corporate cash reserves. The company also said it would allow buyers to buy electric vehicles with coins.
“You’ll see every company in America doing the same thing,” Michael Novogratz, the founder of cryptocurrency investment firm Galaxy Digital said on Monday in an interview with Bloomberg TV.
Along with the companies adding bitcoin to treasury funds, the city of Miami is also considering adding cryptocurrency to their balance sheet: “It shouldn’t be too much. You are interested in messages, you see a herd here, and it is coming. “
Longtime cryptocurrency investors and enthusiasts also speculate that other companies will consider converting excess reserves into bitcoin, perhaps as a hedge against inflation or the dollar’s fall.
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