Novogratz Says Bitcoin Retaking $100,000 Will Prove Difficult

Billionaire Michael Novogratz said a broad-based recovery in the cryptocurrency sector, as measured by market bellwether Bitcoin once again trading over $100,000, may prove difficult in the current macroeconomic environment.

For Bitcoin to rise to that level - last seen in early November, “you’re going to need a few things to happen. Mostly that will be an easing central bank,” Novogratz, the founder and chief executive officer of Galaxy Digital Inc., said during a conference call on Tuesday. “Given the war in Iran, we’ve got some pretty ugly inflation prints that are going to come through the pipeline. So I don’t think the Fed does anything but sits and watches.”