Galaxy Digital Founder Michael Novogratz: BTC Will Consolidate in $7,000-$10,000 Range

Bloomberg reports that Novogratz credits this year’s rally to mainstream acceptance of cryptocurrencies, as well as attention towards  blockchain  technology by Wall Street and technology firms. According to him, both  Microsoft’s use of bitcoin’s blockchain for identity management and Facebook’s   rumored cryptocurrency project gave a lot of credit to the industry .When it comes to Galaxy Digital’s earnings, in the three months that ended on March 31, the company had a net income of $12.9 million, while the company reported a net loss of $134 million in the same period a year earlier. The income was reportedly mostly the result of crypto assets appreciation and investment gains. Yesterday,  news broke that digital currency investment firm Dadiani Syndicate has reportedly been approached by a wealthy client to buy as close to 25% of the bitcoin supply as possible.

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