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Galaxy founder: If the trend continues, Bitcoin will reach 1 million dollars.
Gate News bot news, Galaxy Digital founder and CEO Mike Novogratz stated on Thursday that although it may take a long time, if Bitcoin continues to gain popularity, its price could pump 10 times to reach 1 million dollars.
In an interview with CNBC, he stated, "The bullish reason is that over time, young people care more about Bitcoin than older generations, so gold will gradually be replaced by Bitcoin. If you compare the market value of gold and Bitcoin, you'll find that Bitcoin has a long way to go to reach 10 times, which is 1 million dollars for Bitcoin to reach the level of gold."
It is worth mentioning that in April of this year, Cathie Wood's Ark Invest raised its bullish forecast for the Bitcoin price from the previous 1.5 million dollars to 2.4 million dollars by 2030.
Novogratz's main reason for believing that Bitcoin has the potential to increase in value by 1000% is at least in part based on the latest trends in macro adoption.
"Now, all these companies are buying Bitcoin, sovereign wealth funds are also buying Bitcoin, and retail investors are getting in, making it easier to acquire Bitcoin," he said. "Therefore, I believe that the adoption of Bitcoin as a macro asset and a savings asset is in full swing."
Source: The Block