Galaxy Digital founder Mike Novogratz expressed the view that over the next 20 years, the capitalization of bitcoin “easily” surpass the volume of the market of gold, presently valued at $7.5 trillion. About it reports The Daily HODL.
In conversation with the founder of Morgan Creek Digital Anthony Pompliano Novogratz stressed that the inflow of institutional money into the cryptocurrency market is only a matter of time, and major players like Goldman Sachs and Intercontinental Exchange (ICE) are already embracing new industry.
“I know that Goldman, for example, deals with security tokens. They are still has not really done anything, but really working on various issues — where to keep tools, to create your storage or use a third party service how to make these assets work”, — shared his thoughts Novogratz.
According to him, the growth potential of bitcoin are strong and, therefore, investors might want to enable the first cryptocurrency in their portfolios:
“I think the prospects for bitcoin at the macro level are very significant. Thus, if you take a few percent of the portfolio under BTC, there is a good chance that it’ll work fine. Fidelity is ready to start. Bakkt still a little delayed but it can’t last forever. They, like many others, are going to join this game”.
According to him, the volume of the market of gold is $7.5-8 trillion and in order for this market to surpass the scale of the first bitcoin must increase in value at least 100 times.
“Bitcoin is unlikely to be able to do in the next year or two. However, whether it will happen within 20 years? Easy. Other assets there are no such chances,” added Novogratz.
The founder of Galaxy Digital also touched on the subject of futures for bitcoin. He said that “CME kicked ass Cboe”.
“It’s not right, but [for the market] not critical”, — he stressed.
In February, the Novogratz expressed the opinion that due to the institutional money bitcoin will reach $8000.
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