Billionaire Mike Novogratz shared his new price prediction for Bitcoin: "The next move is here, after that it enters price discovery."

Michael Novogratz, the CEO and founder of Galaxy Digital, announced that the company went public today on Nasdaq under the ticker “GLX” through a direct listing.

Novogratz, who was a guest on CNBC’s Squawk Box program, shared not only the company’s growth strategies but also striking predictions about the future of the cryptocurrency markets.

One of the pioneers of the cryptocurrency markets, Novogratz noted that gold is a $22 trillion asset class, reminding that Bitcoin currently has a market size of only $2 trillion. Novogratz, who stated, “It is just a matter of time before Bitcoin makes its next move towards the $130,000 to $150,000 levels. At that point, we would enter a price discovery phase,” argued that Bitcoin has the potential to approach gold in valuation in the long run.

Novogratz, who stated that Galaxy Digital initially set out with the goal of being the “Goldman Sachs of crypto,” pointed out that the company now has two main areas of activity: crypto services and artificial intelligence data centers. Novogratz announced that they are an important player in the AI infrastructure space with their large-scale data center named Helios located in Texas, and revealed that they have signed agreements with CoreWeave that will last for 15 years and reach approximately $14 billion in rental income.

Evaluating the political approach to crypto in the U.S., Novogratz stated that the Trump administration was positive towards crypto, whereas he described the Biden era as “almost torture” for crypto. Novogratz argued that crypto laws should progress with bipartisan support, noting that the Trump family’s interest in crypto is remarkable, but this interest should not pose an obstacle as long as it does not have an illegal dimension.