Michael Novogratz: Bitcoin capitalization will inevitably reach gold valuation

Mike Novogratz is shocked by the speed of cryptocurrency adoption and is confident that Bitcoin will reach capitalizationgold, and will soon surpass it.

Michael Novogratz in his interview with CNBC on March 30stated that even his optimistic outlook for the adoption of bitcoin and other cryptocurrencies by large companies was not aggressive enough. Now he is confident that the capitalization of the MTC will catch up and exceed the total cost of gold on the market.

The CEO of Galaxy Digital has always beenhas been an active supporter of cryptocurrencies, arguing that increased acceptance from firms, financial institutions and henge funds would stimulate demand for digital assets. But he did not expect such growth rates for Bitcoin, Novogratz admitted in an interview. In his opinion, past forecasts about the price of military-technical cooperation at $60,000 and $100,000 were too modest.

Bitcoin is on the inevitable path to reaching and exceeding gold capitalization.

The current value of gold is $ 10.8 trillion.The capitalization of the first cryptocurrency reached a record $ 1.105 trillion. MTC has become more expensive than the total amount of currency in circulation in countries such as Canada or Australia.

Meanwhile, institutional investorscontinue to actively pour funds into the cryptocurrency market. Yesterday, Goldman Sachs announced plans to provide cryptocurrency investment options to its large clients during the second quarter.

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