Expectation of 1 million dollars in Bitcoin: "It will grow like a snowball"

Mike Novogratz, the CEO of the crypto-focused asset management firm Galaxy Digital, stated that Bitcoin could replace gold in the long run and that in this scenario, the price could reach 1 million dollars.

In an interview with CNBC, Novogratz emphasized that the rise is fundamentally based on the interest of the younger generation in Bitcoin and the increase in institutional adoption rates. Novogratz stated, "Company treasuries, government funds, and individual investors have found it easier to access Bitcoin. Bitcoin has now become a macro investment asset. I believe that from this point on, the ball will continue to roll and grow."

According to the CEO, the most striking example of this wave of adoption is BlackRock's Bitcoin spot ETF. The funds managed by the company hold approximately 3% of the circulating Bitcoin supply and are valued at over 70 billion dollars.

Galaxy Digital has a large mining facility in Texas and holds 12,830 BTC in its portfolio. The total value of these BTC is around 1.34 billion dollars. Additionally, the company launched a $113 million Galaxy Ventures fund last year to invest in early-stage crypto projects.

Published: June 13, 2025 13:26