According to a report by CoinDesk, crypto financial services firm Galaxy Digital has predicted that "institutional and nation-state adoption will drive BTC to $185K and ETH to $5.5K by year-end 2023." This prediction is based on the belief that Bitcoin's market cap will reach 20% of gold's market cap. Galaxy Digital also predicts that the U.S. BTC spot ETF AUM will surpass $250B by next year, and that 5 of the top 100 Nasdaq-listed companies and 5 countries will adopt BTC. Additionally, BTC-based DeFi TVL is expected to double to $22B. These predictions are based on Galaxy Digital's analysis of the current market conditions and the growing adoption of cryptocurrencies. The firm believes that institutional and nation-state adoption will be the key drivers of Bitcoin's price in the coming years.

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