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Mike Novogratz: Bitcoin at or above $10,000 on Dec 31, 2017

Mike Novogratz's prediction that Bitcoin would be at or above $10,000 on December 31, 2017 came true. The close on the deadline decided this call: Bitcoin closed at $13,863 on December 31, 2017, the deadline. Mike Novogratz made the call on Bloomberg on November 21, 2017, when Bitcoin was at $8,256. The target needed a 21% rise in one month.

Updated

What was said

Photo of Mike Novogratz
Mike Novogratz

Founder and CEO, Galaxy Digital

Bloomberg, Nov 21, 2017SourceArchive

5 predictions · 3 hit · 2 missed

Photo: RISE, CC BY 2.0

Bitcoin should finish the year at $10,000 while ethereum is likely to close at $500, the head of Galaxy Investment Partners and former head of the Fortress Investment hedge fund, told Bloomberg television in an interview.

Novogratz said bitcoin is built on an amazing technology, has a limited supply and is trusted by people, and tied its origins to a loss of trust in financial institutions and governments after the 2008 financial crisis. He described bitcoin as 'digital gold', bought for much the same reasons as the metal, and said the crypto revolution was in its second or third inning.

How we checked this

HitDeadline

Price when said
$8,256 closeprice data
Target
$10,000+21%
Close on the deadline
$13,863price data

The close of the last trading day on or before Dec 31, 2017 decides: the prediction comes true if that close is at or above $10,000. Prices are daily closes in UTC, not intraday highs.

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