Novogratz: Sovereign Wealth Funds Eye Bitcoin as U.S. Embraces Crypto
Mike Novogratz, CEO of Galaxy Digital, recently revealed that heads of large sovereign wealth funds have expressed growing interest in Bitcoin, telling him, “If America’s buying Bitcoin, we’re buying Bitcoin.” This statement reflects a significant shift in institutional sentiment, as sovereign wealth funds increasingly view U.S. adoption and regulatory clarity as a green light for their own large-scale investments.
Novogratz shared that a major sovereign wealth fund recently committed $500 million to invest in Bitcoin, signaling “institutional FOMO” and suggesting that sovereign funds could lead the next wave of crypto adoption. He also believes that as the U.S. and other major economies move to hold Bitcoin on their balance sheets, it will set off a domino effect among other countries and large institutional investors.
Galaxy Digital’s research forecasts that this trend could propel Bitcoin to new record highs, with predictions of $185,000 in 2025 as more nation-states and major companies add Bitcoin to their reserves. Novogratz and other analysts emphasize that competition among sovereign wealth funds and the influence of U.S. policy are now key drivers in the global adoption of Bitcoin.
