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

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.

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

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.

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.

However, for investors who are willing to zoom out through a wider lens, the glass appears to be half full.

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