$ETH Galaxy Digital CEO Novogratz, in a statement to CNBC, noted that Bitcoin is being embraced as an asset that could potentially replace gold over time, emphasizing that the younger generation's preference for Bitcoin over gold could significantly increase the price of the cryptocurrency.

Bitcoin's current market value has exceeded approximately 2 trillion dollars, and according to Novogratz, it still has a long way to go to catch up with gold's current market value. If this scenario materializes, the price of Bitcoin could increase tenfold to reach 1 million dollars.$ETH