Bitcoin (CRYPTO: BTC) has outperformed nearly every major asset class during the US-Iran conflict, according to Galaxy Digital Inc (NASDAQ:GLXY) CEO Mike Novogratz.
Novogratz said he expects BTC to grind toward $80,000 before meeting real resistance. “It doesn’t trade stunningly well, but it’s outperformed a ton of other assets in this wartime,” he said. “There are not a lot of sellers left.”
What Novogratz Is Seeing
Bitcoin dipped to $67,000 earlier this month as oil spiked above $100 and Treasury yields surged.
Korea, Japan, gold and silver all got hit harder.
The S&P 500 stayed surprisingly intact, which Novogratz attributed partly to US large-cap growth names like Nvidia Corp (NASDAQ:NVDA) acting as earnings machines less exposed to energy shocks.
Speaking on the latest All Things Markets podcast …
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