Billionaire and ex-fund manager Mike Novogratz has restated his belief that bitcoin will end the year at $10,000, adding that ethereum could close at $500.
Ethereum, the second largest cryptocurrency by market value, will also reach a new high soon of "close to $500."
Notably, the billionaire told Bloomberg that he has invested in initial coin offerings or ICOs, including one launched by the WAX digital asset exchange.
With plans to start a $500 million fund for cryptocurrencies, token sales and related startups, called the Galaxy Digital Asset fund, Novogratz indicated that he goes to great lengths to ensure the safety of his cryptocurrency holdings.
Michael Novogratz image via CoinDesk archives