Key Takeaways
- Mike Novogratz says ETH is poised to outperform BTC in the next 3–6 months.
- His comments follow Galaxy Digital’s massive 30,000 BTC dump.
- Ethereum has surged above $3,000 and is gaining strong institutional momentum.
Mike Novogratz is putting his chips on Ethereum (ETH) just as Galaxy Digital dumps billions worth of Bitcoin.
The Galaxy Digital CEO says ETH could outpace Bitcoin in the final phase of this bull run — and the timing isn’t going unnoticed.
Ethereum’s Moment Is Coming
Speaking to CNBC, Novogratz said Ethereum has “a real shot to outperform Bitcoin in the next three to six months,” especially if it breaks above the key psychological level of $4,000.
He pointed to a “limited float” and increasing institutional demand as key drivers.
“If it can break above $4,000, that becomes a psychological and technical level that could take it into price discovery,” he added.
ETH is currently trading around $3,700, still roughly 25% below its all-time high of $4,800 set in 2021.
Meanwhile, Bitcoin has already shattered its own records this cycle, peaking above $123,000.
Yet ETH is closing the gap fast and attracting the attention that used to be reserved for BTC.
Companies like Sharplink Gaming and Bitmine have started adding ETH to their balance sheets, echoing the early treasury strategies pioneered for Bitcoin.
Is Galaxy Digital Stacking ETH Next?
The timing of Galaxy’s massive Bitcoin selloff has led some to speculate whether the firm is reallocating capital into Ethereum.
On July 25, Galaxy Digital reportedly moved BTC tied to a Satoshi Era whale to major exchanges—triggering speculation of a selloff that coincides with ETH’s growing institutional narrative.
Novogratz hinted that ETH is beginning to draw the same kind of capital flows as Bitcoin, especially with ETF optimism building.
“You’re seeing institutions getting interested in Ethereum just like they did with Bitcoin. ETFs are part of that story. You combine that with limited float, and it’s a powder keg.”
While ETH may not surpass Bitcoin in price per coin, Novogratz’s bet is that its percentage gains in the coming months will be greater.
Recent data seems to support the view. Ethereum has outperformed BTC in trading volume and ETF inflows over the last few weeks—making Novogratz’s prediction look more plausible by the day.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
Beyond his professional pursuits, Prashant is an avid music enthusiast, often exploring diverse genres to unwind. A sports lover, he has a particular passion for cricket and frequently engages in discussions about the game. His multifaceted interests and sharp journalistic instincts make him a valuable contributor to CCN, where he continues shaping the crypto landscape's narrative.
