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Despite Grayscale Fee Concerns, Novogratz Bullish on Bitcoin's Trajectory

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2024-01-24 11:47:26
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Despite Grayscale Fee Concerns, Novogratz Bullish on Bitcoin's Trajectory

 

Cryptocurrency leader Mike Novogratz remains positive on Bitcoin's future prospects, even with Grayscale's high 1.5% fee for its Bitcoin Trust ETF. He believes Bitcoin's value will climb over the next 6 months, citing its proven resilience and capacity to adapt.

 

Novogratz's upbeat outlook comes amidst divided opinions on how Grayscale's costly ETF fee could impact Bitcoin. Analyst Chris J. Terry predicted selling pressure and price declines. But Novogratz disagrees — he expects most investors will shift into alternative lower-fee Bitcoin ETFs, with BTCO as a top pick.

 

Moreover, Novogratz emphasizes these new ETF products open Bitcoin investing to a broader mainstream audience, including older generations. And they provide opportunities to significantly leverage Bitcoin exposure.

 

So while Grayscale's fee structure may bring short-term volatility, Novogratz remains convinced Bitcoin will continue increasing in value through 2024, buoyed by its durability and expanding accessibility via competitor ETFs with more appealing fee models. He sees the big picture beyond current fee debates.

 

Mike Novogratz on Twitter

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