Galaxy CEO: Bitcoin is expected to reach $150,000 this year, but Ethereum may perform even better

ChainCatcher news, according to Decrypt, Galaxy CEO Mike Novogratz stated in an interview with CNBC on Thursday that Ethereum (ETH) may outperform Bitcoin (BTC) in the next three to six months.

Novogratz believes that institutional investor interest could drive Ethereum's price further up. Ethereum is currently trading close to $3,730, having reached a high of $3,848 on Monday, but it is still 24% lower than its all-time high of $4,878 set in 2021. Novogratz stated that the narrative around Ethereum is very strong, and its price could soon reach $4,000.

He also mentioned that many publicly listed companies are following MicroStrategy's (now renamed Strategy) Bitcoin treasury model, but they are choosing to purchase Ethereum instead of Bitcoin. Nasdaq-listed BitMine Immersion has made significant purchases of this cryptocurrency, currently holding $2 billion worth of Ethereum.

Additionally, U.S. investors are rapidly pouring into Ethereum exchange-traded funds (ETFs), which saw over $726 million in net inflows last week, setting a single-day trading record. Meanwhile, Novogratz also predicts that Bitcoin could reach $150,000 this year.