Galaxy Digital CEO Mike Novogratz believes that Bitcoin (BTC) could reach a price of seven digits in the midst of the growing acceptance of the crypto king.
In a new interview on CNBC, Novogratz out Bitcoin has become an “institutionalized macro -activum”, just like gold or silver.
According to Novogratz, the increasing number of institutional investors will put money in Bitcoin, more investors in an active offer with a fixed offer.
“More and more people realize that this is a story they want to give. And so as soon as Larry Fink said that BlackRock is falling behind here, all that pushes the snowball uphill uphill, it started to roll downhill. And now we have all these treasury companies that buy Bitcoin, we have sovereine wealth [funds] If you buy Bitcoin, we have retail investors who buy Bitcoin, there are easier ways to get it.
And so the approval of Bitcoin as a macro -active, as a plus to save money, I think that is now a ball that rolls downhill. “
The Galaxy Digital CEO says that Bitcoin could rise from the current level by more than 9 times, because it is increasingly being accepted as a store of value by younger generations.
“The bull’s suit is that over time young people give it more than old people. And so gold is slowly replaced by Bitcoin. If you look at Gold’s Market Cap and Bitcoin’s market capitalization, Bitcoin still has a long way to go – 10x. And that is therefore a $ 1 million bitcoin to be gold.”
Bitcoin acts at $ 105,662 at the time of writing.
https://www.youtube.com/watch?v=7LGHXIGZPN4
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