In a recent interview with CNBC, Michael Novogratz, CEO of Galaxy Digital, predicted a transformative boost for Bitcoin driven by the launch of options trading on Bitcoin ETFs. Novogratz emphasized that while the rollout of these options has been slower than expected, they will act as a significant catalyst for the cryptocurrency market. “The next big jolt to bitcoin is going to be when we have options that trade on the ETFs,” Novogratz stated, forecasting that these developments could take place in the next few weeks.

Novogratz highlighted that Bitcoin has seen a remarkable year, with a 150% price surge driven by a dovish stance from the Federal Reserve. As the central bank signals an end to aggressive interest rate hikes, institutional interest in Bitcoin is gaining momentum. The ETF options are expected to make Bitcoin investment more accessible to retail investors, potentially driving prices even higher​.

The Galaxy Digital CEO remains bullish on Bitcoin’s future, expecting more institutional involvement in the cryptocurrency space. Novogratz’s outlook comes as the U.S. prepares for the 2024 elections, which could further influence the regulatory landscape for digital assets. With these developments, Bitcoin could see another surge, particularly as financial markets brace for potential rate cuts​.