Billionaire Investor: Bitcoin Price Headed to $500K in 5 Years

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So far in 2022, the bitcoin price is trading in a narrow range around the $40,000 level, down more than 40% from its peak of close to $70,000 in November.

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According to Mike Novogratz, founder and CEO of digital asset investment firm Galaxy Digital, it's going to be more of the same for the short-term.

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But by 2027, bitcoin could very well be trading in a class of its own.

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Investors have been sorely disappointed as bitcoin has failed to act as the inflationary hedge it was designed to be amid soaring consumer prices and rising interest rates.

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Instead, bitcoin has been carrying the growth-asset mantle, and investors have been fleeing anything that looks like risk in droves.

While nobody said that crypto investing would be a walk in the park, it can be difficult to stomach the volatility.

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