The billionaire investor Mike Novogratz predicted that the price of bitcoin would hit $65,000 while offering advice to the "Game of Thrones" star Maisie Williams on Twitter on Monday.
The actor took a poll on Twitter on whether she should buy bitcoin, the world's most popular cryptocurrency. Novogratz responded by saying he expected the price to hit $20,000 before getting to $65,000 because of a "network effect" in which there are a ton of new buyers and low supply.
"So YES, buy it," he said.Maisie Williams' Twitter poll. @Maisie_Williams/Twitter
Bitcoin surged on Wednesday by as much as 4.8%, to $18,480 and a three-year high, before tumbling by $1,000 in midafternoon Asian trading. Bitcoin began to surge in October at about the time PayPal announced it would allow its users to buy, sell, and hold the cryptocurrency on its network. The price has gained 70% since the start of last month.
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Novogratz has long advocated bitcoin and said he expected its price to keep increasing as more people warm up to the idea of adding it to their portfolio.