Bitcoin's Big Climb: A Bump Ahead?

Bitcoin is zooming towards $100, 000, but don't expect it to fly there forever without a hiccup, warns Michael Novogratz, CEO of Galaxy Digital. The crypto king was trading near $97, 000 on Thursday, after hitting an all-time high of almost $98, 400. Novogratz thinks this milestone was bound to happen and that bitcoin could keep climbing. However, he also expects a dip soon. "Crypto is loaded with leverage right now. There will be a correction, " he said. Novogratz believes bitcoin won't drop below $80, 000 again, but warns that stocks like MicroStrategy, which are betting big on crypto, might see a bigger fall. MicroStrategy's shares have soared 650% this year, driven by its crypto investments. The company just took on more debt to buy more bitcoin. Others, like Acurx Pharmaceuticals, are considering following suit. Novogratz advises investors to stick with bitcoin instead of these riskier plays. Despite a mystery seller dumping crypto recently, bitcoin's rally continues. President-elect Trump's crypto-friendly stance is seen as a boost. Novogratz, a long-time crypto investor, leads Galaxy Digital, a firm focused on digital assets and related companies.