Famous Billionaire: If This Happens, Bitcoin Price Will Increase 10x and See 1 Million Dollars!
Famous billionaire Mike Novogratz stated that Bitcoin (BTC) could increase its value tenfold in the long term by replacing gold, reaching a price of 1 million dollars.
Galaxy Digital CEO Novogratz, in a statement to CNBC, pointed out that Bitcoin is being adopted 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 cryptocurrency's price.
Bitcoin's current market value has surpassed approximately 2 trillion dollars, and according to Novogratz, there is still a long way to go for it to catch up with gold's current market value. If this scenario occurs, the price of Bitcoin could increase tenfold, reaching 1 million dollars.
Cathie Wood, known for high price expectations in the crypto market, also painted an optimistic picture for Bitcoin in recent months, raising her price prediction to 2.4 million dollars for the year 2030. Similarly, Michael Saylor has repeatedly mentioned that the price of Bitcoin could reach much higher levels.
At the core of Novogratz's faith in Bitcoin lies the broad adoption occurring at a macro level. The rapidly increasing interest of large companies' treasury funds, sovereign wealth funds, and individual investors in Bitcoin strengthens the positive pressure on its price. Especially giant institutional funds like BlackRock have gained a significant position in the market by increasing their investments in Bitcoin. The total value of assets held by BlackRock in its Bitcoin spot ETF is currently around 70 billion dollars.
Bitcoin is currently trading at approximately 106,210 dollars and has gained over 50% in value over the past year. Galaxy Digital, led by Novogratz, is also known for its Bitcoin investments, holding approximately 12,830 BTC valued at around 1 billion dollars.
