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Bitcoin Will Replace Gold And Go To $1,000,000, Says Galaxy Digital CEO Mike Novogratz
- Galaxy Digital CEO Mike Novogratz predicts that Bitcoin will replace gold and could reach $1,000,000 in value.
- Novogratz states that Bitcoin has become a mainstream macro asset and is no longer considered a fringe investment.
- The CEO highlights that Bitcoin's volatility is now viewed as normal compared to traditional assets.
- He mentions a global shift away from the dollar towards assets like Bitcoin, citing a weaker dollar stance by the US administration.
- Novogratz indicates that macro funds are performing well, being short on the dollar and long on alternative currencies and assets like Bitcoin, gold, and silver.
- Bitcoin's fixed supply of 21 million coins is seen as a significant factor contributing to its increasing value.
- He notes that more Bitcoins have been lost than will be mined in the future, emphasizing scarcity.
- The CEO believes that institutional involvement, including firms like BlackRock, is solidifying Bitcoin's role as a savings asset.
- Novogratz sees a scenario where Bitcoin gradually replaces gold as a store of value, with Bitcoin having significant growth potential to reach parity with gold.
- He suggests that Bitcoin could potentially reach $1,000,000 per coin to match gold's market cap.
- The interview with Novogratz was featured on CNBC and shared by Bitcoin Magazine through Twitter.
- The original article was written by Oscar Zarraga Perez for Bitcoin Magazine.
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