Novogratz Sees Bitcoin Reaching $1 Million Price and Surpassing Gold’s Massive $22 Trillion Valuation
Main Idea
Galaxy Digital CEO Mike Novogratz predicts Bitcoin could reach $1,000,000 per coin and potentially overtake gold's market value, citing favorable policy shifts and institutional inflows.
Key Points
1. Mike Novogratz believes Bitcoin could eventually reach $1,000,000 per coin and replace gold in market value.
2. Gold's total market value is estimated at $22–23 trillion, while Bitcoin's is around $2.3–2.4 trillion.
3. Bitcoin recently hit a record high near $124,000, driven by expectations of Fed easing and increased institutional investment.
4. Novogratz's prediction is based on Bitcoin's long-term price appreciation and potential market-cap growth relative to gold.
5. The comparison between Bitcoin and gold assumes current market frameworks for both assets.
Description
Galaxy Digital CEO Mike Novogratz now says Bitcoin could ultimately reach $1,000,000 per coin and “replace” or overtake gold in market value.
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