🎤 Novogratz Prediction: Bitcoin Market Value Expected to Exceed Gold in 5 to 8 Years
Galaxy CEO Mike Novogratz is back with predictions, stating that Bitcoin's market value could surpass gold within 5 to 8 years!
Just as we are marveling at Bitcoin's market value reaching 14% of gold's market value, Novogratz is already looking further into the future. He mentioned that Bitcoin's growth momentum and institutional acceptance are both on the rise, which is a record-breaking figure!
Yesterday, as Bitcoin's price surged to a historic high of $108,000, its market value reached $2.13 trillion, which is more than two-thirds of the $3.13 trillion in gold held by global central banks! Novogratz's words also show us the potential for Bitcoin to challenge gold's status as the primary store of value.
Meanwhile, Federal Reserve Chairman Powell recently had to admit that Bitcoin is the 'digital version' of gold. Although he still views Bitcoin more as a speculative asset, he recognizes Bitcoin's position as a legitimate asset class.
Currently, the total assets managed by Bitcoin ETFs in the U.S. have reached $129.25 billion, surpassing gold's $128.88 billion. At the same time, BlackRock's iShares Bitcoin ETF (IBIT) has outperformed BlackRock's own mainstream gold ETF (IAU), which has been around since 2005, since its launch this year.
In summary, Galaxy Digital CEO Mike Novogratz's prediction not only marks great confidence in Bitcoin's future potential but also reflects a new milestone in the maturity of the cryptocurrency market.
As market conditions continue to improve and numerous institutions join in, Bitcoin's status as 'digital gold' is increasingly being widely accepted. Based on these deep market dynamics and analytical perspectives, Bitcoin is expected to reshape the valuation landscape of global assets in the coming years.
💬 Do you think Bitcoin's market value can really surpass gold in 5 to 8 years? In this battle between 'digital gold' and 'traditional gold', who do you favor more? Share your thoughts in the comments!