Mike Novogratz Predicts Ethereum Will Hit $4,000 Amid Soaring Institutional Demand
Mike Novogratz, the head of Galaxy Digital, is betting on Ethereum. He is confident that the altcoin will outperform Bitcoin over the next six months, thanks to growing institutional interest that is rapidly absorbing the available supply of ETH.
Novogratz, head of one of the largest cryptocurrency investment companies, is openly optimistic about Ethereum, the second-largest cryptocurrency by market capitalization. He stated that the market supply of Ethereum is critically low, creating ideal conditions for growth.
“The supply of ETH is low, so I think Ethereum has a chance to outperform Bitcoin in the next three to six months,” he said.
Goal: $4,000 and up
Novogratz believes that Ethereum is poised to reach at least $4,000, which represents only an 8.5% increase from its current level.
“If ETH breaks $4,000, it will go into price discovery mode,” the manager explained. Price discovery refers to the process where an asset's price moves into uncharted territory with no historical resistance levels.
Novogratz highlighted the “really powerful” narrative surrounding Ethereum. Institutional purchases are increasing rapidly. This week, two major companies reported significant ETH acquisitions.
BitMine Immersion Technologies reported acquiring 566,776 ETH, worth approximately $2.03 billion. Sharplink Gaming has accumulated 360,807 ETH, valued at around $1.29 billion. Ether Machine plans to list on Nasdaq under the ticker “ETHM,” with more than 400,000 ETH under management—over $1.5 billion.
“They are raising capital every day and buying Ethereum,” Novogratz said. He does not see this process slowing down.
Technical signals are heating up
Charts already show Ethereum outperforming Bitcoin. The relative strength of ETH versus BTC has increased by 36.53% over the past 30 days, according to TradingView. The ETH/BTC ratio has reached 0.032.
However, Novogratz is not giving up on Bitcoin. He still sees short-term growth potential for the leading cryptocurrency.
“$150,000 seems like a realistic target when I draw funny lines on my charts,” the manager admitted, adding, “It feels like we’re destined to go higher as long as the current narrative continues.”
The only factor that could change Novogratz’s bullish outlook is a shift in the Trump administration’s stance on interest rates. “If President Trump changes his mind and decides the country doesn’t need lower rates, that would change my mind,” he said.
Institutional capital continues to pour into Ethereum, creating a supply shortage. Novogratz is targeting $4,000 for ETH and $150,000 for Bitcoin—ambitious goals, but consistent with the current bullish sentiment.
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