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Mike Novogratz Says He's Still Bullish on Bitcoin Despite Sharp Drop

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Wed, 17/03/2021 - 6:44
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Mike Novogratz Says He's Still Bullish on Bitcoin Despite Sharp Drop
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In a recent tweet, Mike Novogratz of Galaxy Digital says that he remains bullish on Bitcoin.

The former hedge fund manager claims that he bought more coins at $56,500.

During his recent appearance on CNBC’s “Squawk Box,” Novogratz mentioned that a lot of people would want to stack sats with their incoming stimulus checks.   

Mizuho Securities recently estimated that up to $40 billion of the relief money could be spent on Bitcoin and equities.

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As reported by U.Today, hundreds of millions of dollars worth of short positions got liquidated on March 14 when Bitcoin rallied to a new all-time high of $61,781.

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Following its sharp move higher, Bitcoin went on to erase its gains, plunging 13 percent over the course of three days.

The flagship cryptocurrency is still up 93 percent in 2021.  

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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