Jun 13, 2025

Novogratz Sees $1M Bitcoin as Digital Gold Narrative Grows

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Galaxy Digital CEO Mike Novogratz has joined a growing chorus of prominent investors projecting massive long-term gains for Bitcoin, suggesting the asset could climb to $1 million if current adoption trends persist. Speaking in a CNBC interview, Novogratz positioned Bitcoin’s trajectory in direct comparison with gold, arguing that younger generations are increasingly drawn to digital assets as alternative stores of value.

According to Novogratz, Bitcoin could “10x” from its current levels if it follows a similar adoption curve to that of gold.

“If you just get Bitcoin to gold’s market cap, that’s a million-dollar Bitcoin,” he said, pointing to generational shifts in investment behavior as a key driver of future demand.

While he admitted that such an evolution will take time, Novogratz stressed that growing comfort with Bitcoin among both institutional and retail investors—especially younger cohorts—makes the digital gold thesis increasingly credible.

His outlook echoes bullish forecasts from other market heavyweights. Cathie Wood’s Ark Invest recently raised its high-end Bitcoin prediction to $2.4 million by 2030, citing institutional growth and stronger financial integration. Similarly, MicroStrategy’s Michael Saylor has been a consistent proponent of Bitcoin as a strategic treasury asset amid inflationary pressures and fiat depreciation.

With increasing numbers of investors turning to decentralized stores of value in the face of macroeconomic instability, Bitcoin’s long-term upside remains a focal point in financial conversations around wealth preservation and innovation.

Macro Adoption Accelerates Bitcoin’s Momentum

Novogratz argued that Bitcoin’s path to $1 million is no longer just a theoretical bet—it’s gaining real traction amid accelerating macro-level adoption by corporations, institutions, and even sovereign entities.

“We’re seeing treasuries adding Bitcoin, sovereign wealth funds entering, retail adoption growing, and access becoming easier,” Novogratz said. “The momentum behind Bitcoin as a macro asset is now like a snowball rolling downhill.”

The statement reflects a growing macro thesis behind Bitcoin’s rise. One of the most notable examples is BlackRock’s iShares Bitcoin Trust (IBIT), which has seen rapid inflows since launch and now reportedly holds around 3% of Bitcoin’s circulating supply. With over $70 billion in assets under management, the ETF serves as a key bridge between traditional capital and the digital asset space.

Bitcoin is also making its way into pension funds, corporate balance sheets, and sovereign portfolios—marking a major shift from its early roots as a niche alternative investment. For Novogratz, this broader base of support signals a new era of legitimacy and utility for Bitcoin as a global financial instrument.

Bitcoin Tops $106K as Galaxy Deepens Crypto Bets

Bitcoin is currently trading above $106,000, maintaining strong momentum after a more than 50% year-over-year rally. While still below its all-time high of $111,000, the sentiment across markets remains overwhelmingly bullish—driven by a combination of institutional demand, ETF activity, and macroeconomic shifts favoring hard assets.

Galaxy Digital, under Novogratz’s leadership, is well-positioned to benefit from Bitcoin’s surge. The firm has raised $113 million for its early-stage Galaxy Ventures fund and continues to scale its mining operations in Texas. Galaxy also holds approximately 12,830 BTC, valued at over $1 billion—firmly aligning its financial performance with Bitcoin’s long-term success.

As Bitcoin’s total market capitalization climbs past $2 trillion, its influence on adjacent sectors—venture capital, mining, asset custody, and blockchain infrastructure—is becoming increasingly apparent. For firms like Galaxy Digital, the ongoing maturation of the Bitcoin ecosystem offers both validation and opportunity across a range of crypto-linked verticals.