Galaxy Digital CEO Michael Novogratz predicts that Ethereum could soon outperform Bitcoin, driven by increased institutional demand and an impending supply crisis.
In an interview with 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."
He added that "if ETH takes out $4,000, it goes into price discovery."
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Recent revelations from Sharplink Gaming and BitMine Immersion Technologies, which hold a total of $3.3 billion in ETH, reinforce his bullish stance. The institutional narrative for Ethereum is "really powerful," Novogratz added.