On Thursday (April 2), Michael Novogratz, a former Goldman Sachs partner, as well as Founder, Chairman, and CEO of crypto-focused merchant bank Galaxy Digital, talked about his expectations for Bitcoin during the remainder of this year.

His comments about Bitcoin were delivered during an interview on CNBC’s “Closing Bell”.

Novogratz started by talking about the huge amount of interest in Bitcoin that he is currently seeing from institutional investors (such as hedge funds) and high net worth individuals:

“I am seeing investors I never saw before — hedge fund investors, high net worth investors — getting into Bitcoin for the first time.”

He then mentioned that he had been recently saying on Twitter that he feels this is the year for Bitcoin to shine (due to all the money printing being done in 2020 by the world’s central banks):

“I said this in a tweet: ‘this is the year for Bitcoin’, and if it doesn’t go up a lot by the end of the year, I think I might just hang my spurs because it doesn’t go up now, you know, I’m not sure when it will.”

However, although Novogratz appears to be getting a bit impatient with Bitcoin, he still seems to believe in Bitcoin’s fundamentals, he says that the huge amount of money printing being done at the moment, mostly in order to fight the economic harms of COVID-19, is going to devalue fiat currencies, and he expects Bitcoin to double in value within six months:

“We’re seeing real flows in the Bitcoin.

“You know, it’s a hard asset… Money doesn’t grow on trades and right now feels like we crossed the Rubicon where everyone feels like money grows on trees.

“I think those tools are the wrong thing… we’re gonna debase the value of fiat…

“We should have doubled within six months. We really should have. This is the time. And maybe within the end of the year, retesting the old highs of $20,000.”

On March 26, Tyler Winklevoss, Co-Founder and CEO of digital asset exchange Gemini, called Bitcoin a “vaccine” for the “money printing disease”:

Symptoms of the “money printing disease” that Winklevoss is referring to in his tweet are the recent actions of the Federal Reserve (aka “the Fed”) in response to the huge economic threat to the U.S. (and world) economy posed by COVID-19.

As CNBC reported on March 26, the Fed Chairman Jerome Powell said in an interview with U.S. television network NBC’s “TODAY” program that the U.S. central banks will continue to provide liquidity to businesses that need it:

“When it comes to this lending, we’re not going to run out of ammunition, that doesn’t happen. We still have policy room in other dimensions to support the economy.”

Perhaps, the fact that Novogratz’s latest comments about Bitcoin display a sense of impatience/frustration is because although Bitcoin managed to outperform both the Dow and the S&P 500 by a wide margin in Q1 2020, it still lost just over 10% of its value against USD in the last quarter.

Nevertheless, he has been increasingly cheerleading for Bitcoin in the past couple of weeks, as you can see by some of his tweets: