Novogratz Predicts Ether May Outperform Bitcoin Amid Institutional Buying Frenzy

Galaxy Digital CEO Michael Novogratz believes Ether is on track to outperform Bitcoin within the next six months, driven by rapid institutional accumulation and a tightening supply. Speaking to CNBC on Thursday, Novogratz said , “There’s not a lot of supply of ETH, and so I think ETH probably has a chance to outperform Bitcoin in the next three to six months.” At the time of his remarks, Ether was trading around $3,618, and Novogratz pointed to the $4,000 mark as a key level for the asset. “We feel kind of destined to at least knock on the $4,000 ceiling a few times,” he said, noting that a breakout above this level would push Ether into “price discovery” mode, potentially opening the door for new all-time highs. Major Firms Fuel Ether Narrative Novogratz highlighted the “really powerful” narrative forming around Ether, driven by high-profile corporate buyers entering the market. BitMine Immersion Technologies disclosed on Thursday that it holds 566,776 ETH worth over $2.03 billion, while Sharplink Gaming reported 360,807 ETH worth approximately $1.29 billion. Additionally, Ether Machine, a new firm preparing to list on Nasdaq under the ticker “ETHM,” will launch with over 400,000 ETH valued at more than $1.5 billion under management. These developments reflect a broader institutional pivot toward ETH, with Novogratz noting, “They are raising capital every day and buying Ether.” His outlook aligns with BitMEX co-founder Arthur Hayes, who predicted earlier this week that ETH could reach $10,000 by the end of the year if the momentum continues. On the technical front, ETH has shown strong relative performance against Bitcoin, with the ETH/BTC ratio up 36.53% over the past 30 days, according to TradingView data. Bitcoin Still Poised for Growth Despite Ether’s rising strength, Novogratz remains bullish on Bitcoin’s long-term trajectory . He indicated that a Bitcoin price of $150,000 is a “decent target,” emphasizing that as long as the current macro narrative holds, the crypto market appears “destined to go higher.” Bitfinex analysts also noted in a recent report that if Bitcoin’s uptrend persists, the next major target could be $136,000, though they cautioned it may align with overextended bullish sentiment and potential local tops. Novogratz acknowledged potential macro risks, cautioning that a reversal in US monetary policy could alter his outlook. “If Trump decides the country doesn’t need lower rates, that would change my thesis,” he said, “but until that happens, I think we’re heading to 150.” The post Novogratz Predicts Ether May Outperform Bitcoin Amid Institutional Buying Frenzy appeared first on TheCoinrise.com .

Source: The Coin Rise