Former Fortress hedge fund manager Michael Novogratz said Monday that bitcoin can breed more than four times in about the next 13 months.
“Bitcoin could be at $40,000 by the end of 2018. It could easily be,” said Michael Novogratz on Monday at CNBC’s “Fast Money.” “Ethereum, which I think has just touched $500 or so close, could be triple where it is also.”
Bitcoin traded near $9,656 on Monday afternoon, after hitting a record high above $9,700 the previous day, according to CoinDesk. Ethereum hit a record high of $493.40 on Monday, according to CoinMarketCap, and last traded near $482.
The total market capitalization of all digital coins at CoinMarketCap reached $304 billion on Monday. Novogratz said he expects it could increase by about six times to $2 trillion by the end of next year.