Billionaire investor Mike Novogratz has revealed that he still believes the flagship cryptocurrency Bitcoin ($BTC) will trade at $500,000 per coin in the future, but delayed his prediction over the Federal Reserve and other central banks raising interest rates to rein in on inflation.

During an interview with Bloomberg, Novogratz said that he believes $BTC will trade at $500,000 but “not in five years,” as per his words Federal Reserve chairman Jerome Powell found “his central banking superpowers.”

Bitcoin and other risk assets have been seeing their prices plunge over the last few months as central banks throughout the world raise interest rates to bring down inflation. Moreover, the collapse of FTX, which is believed to have invested users’ funds and now owes over $3 billion to its largest creditors, have accelerated losses in the crypto space.