In this YouTube video, the founder and CEO of Galaxy, Mike, discusses the current state of the market with Bitcoin reaching close to $100,000. He attributes the recent surge in Bitcoin’s price to a paradigm change with the election of Donald Trump and a more favorable regulatory and political climate for the cryptocurrency industry. Mike also mentions that there is significant demand for Bitcoin from public equity markets, with companies like MicroStrategy buying large amounts of Bitcoin with their funds. He predicts that Bitcoin may continue to rise past $100,000 and mentions that there is currently not enough supply to meet the demand. However, he also warns about the high levels of leverage in the crypto community, which could lead to sharp corrections in the future. Overall, he is confident that Bitcoin will not drop below $80, but cautions that there may be some volatility in the market due to excessive leverage.
