Bitcoin will reach $1 million if the trend of replacing gold continues, says Novogratz
Galaxy Digital CEO Mike Novogratz predicts that Bitcoin could reach a valuation of $1 million by replacing gold as the primary store of value.
According to Novogratz's analysis, the cryptocurrency will need to grow tenfold to match gold's current market capitalization.
Corporate treasuries are increasingly adopting Bitcoin as companies, sovereign funds, and retail investors view BTC as a macro asset.
BlackRock's spot BTC-ETF demonstrates institutional recognition, owning about 3% of the total BTC supply worth over $70 billion.
Novogratz cites easier access methods and growing adoption momentum as key factors behind his bullish forecasts.
