Galaxy Digital founder and CEO Mike Novogratz has asserted that Bitcoin would hit $800,000 in five to ten years, citing gold’s correlation.

In an interview with Bloomberg, Novogratz became the latest to argue that Bitcoin would hit gold’s market cap. He noted that Bitcoin would trade at $800,000 in the next five to ten years, matching gold’s current $16 trillion valuation.

Novogratz cited a shift in market interest among the emerging generation. He stated that the next generation of investors are more attracted to Bitcoin, which they perceive as a digital store of value, over gold.

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