Galaxy Digital CEO Michael Novogratz believes Ether is on track to outperform Bitcoin within the next six months, driven by rapid institutional accumulation and a tightening supply. Speaking to CNBC on Thursday, Novogratz said , “There’s not a lot of supply of ETH, and so I think ETH probably has a chance to outperform Bitcoin in the next three to six months.” At the time of his remarks, Ether was trading around $3,618, and Novogratz pointed to the $4,000 mark as a key level for the asset. “We feel kind of destined to at least knock on the $4,000 ceiling a few times,” he said, noting that a breakout above this level would push Ether into “price discovery” mode, potentially opening the door for new all-time highs. Major Firms Fuel Ether Narrative Novogratz highlighted the “really powerful” narrative forming around Ether, driven by high-profile corporate buyers entering the market. BitMine Immersion Technologies disclosed on Thursday that it holds 566,776 ETH worth over $2.03 billion, while Sharplink Gaming reported 360,807 ETH worth approximately $1.29 billion. Additionally, Ether Machine, a new firm preparing to list on Nasdaq under the ticker “ETHM,” will launch with over 400,000 ETH valued at more than $1.5 billion under management. These developments reflect a broader institutional pivot toward ETH, with Novogratz noting, “They are raising capital every day and buying Ether.” His outlook aligns with BitMEX co-founder Arthur Hayes, who predicted earlier this week that ETH could reach $10,000 by the end of the year if the momentum continues. On the technical front, ETH has shown strong relative performance against Bitcoin, with the ETH/BTC ratio up 36.53% over the past 30 days, according to TradingView data. Bitcoin Still Poised for Growth Despite Ether’s rising strength, Novogratz remains bullish on Bitcoin’s long-term trajectory . He indicated that a Bitcoin price of $150,000 is a “decent target,” emphasizing that as long as the current macro narrative holds, the crypto market appears “destined to go higher.” Bitfinex analysts also noted in a recent report that if Bitcoin’s uptrend persists, the next major target could be $136,000, though they cautioned it may align with overextended bullish sentiment and potential local tops. Novogratz acknowledged potential macro risks, cautioning that a reversal in US monetary policy could alter his outlook. “If Trump decides the country doesn’t need lower rates, that would change my thesis,” he said, “but until that happens, I think we’re heading to 150.” The post Novogratz Predicts Ether May Outperform Bitcoin Amid Institutional Buying Frenzy appeared first on TheCoinrise.com .
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