Michael Novogratz, CEO of Galaxy Digital on Thursday said Ethereum (CRYPTO: ETH) has a chance to outperform Bitcoin (CRYPTO: BTC) over the next three to six months as institutional capital begins to rotate deeper into Ethereum.
What Happened: The remarks came during an interview with CNBC, where Novogratz discussed macroeconomic tailwinds and capital inflows driving momentum in the crypto market.
Galaxy’s bullish stance on Ethereum is also evident in its onchain activity.
According to blockchain intelligence platform Arkham, Galaxy Digital currently holds over 52,000 ETH valued at approximately $193.95 million, making it the firm’s second-largest crypto position after Bitcoin.
“If ETH takes out 4,000, it goes into price discovery,” Novogratz said. “The market was …