Shiba Inu Price Watch: 60% Rally Catches Whale Attention \u2013 Is More Growth Ahead?<\/a><\/div>\nNovogratz remains bullish on Bitcoin and advises the US government to acquire more and double down on its campaign to promote digital assets. He added that the government doesn\u2019t need to support the USD with other assets. In the same Bloomberg interview, he further shared that he\u2019s heavily invested in Bitcoin and will welcome the possibility of the reserve bill getting approved.<\/p>\n
Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"Now that Bitcoin short-term price action remains bullish, driven by US President Donald Trump\u2019s vocal support for crypto, analysts ponder the following question: How will Bitcoin perform in five to 10 years? For Galaxy Digital\u2019s Mike Novogratz, using gold as a benchmark, Bitcoin can hit $800,000 in five to 10 years. Related Reading: Solana Rising: Key Metrics Hint At Serious Ethereum Competitor In a Bloomberg Television interview, Novogratz joins other analysts on their bullish take on the top digital asset. He added that Bitcoin will remain upward and trade at $800k in the next five to 10 years, approximating gold\u2019s $16 trillion market value. Bitcoin To Match Gold\u2019s Market Cap: Analysts Trump\u2019s win is arguably one of the triggers for Bitcoin\u2019s recent price action. A few days ago, Bitcoin edged out silver in the list of Top 10 assets in the market cap department. Today, the digital asset tops Saudi Aramco on the same list, with a valuation of $1.79 trillion. With the continuous climb in digital assets, many ask if they match gold\u2019s market cap. According to Novogratz, the shift in market interest among the new generation of consumers and traders is helping Bitcoin. He stated that today\u2019s investors prefer Bitcoin, which is considered a digital store of value. Aside from Novogratz, other market analysts and industry personalities use gold as Bitcoin\u2019s benchmark. For example, Howard Lutnick and Anthony Scarammucci have also compared both assets, saying that Bitcoin will beat gold\u2019s market cap soon. Bitcoin To Trade In $500k Level If It Becomes Part Of US Reserve The Galaxy Digital founder also predicts that Bitcoin\u2019s price will hit $500k if the US government decides to integrate the digital asset as part of the Treasury. Novogratz made this bold projection based on the current bullish trend and potentially favorable policies for crypto. Novogratz added that if the US decides to acquire up to 1 million BTC, then this will force other governments to invest as well, pushing the demand. In addition, Trump\u2019s support for Bitcoin and crypto is also fueling the bullish run of the asset. Novogratz Not Confident On Government\u2019s Decision To Add BTC As Reserve Asset Although Novogratz identifies a $500k target, he thinks the US Treasury will likely not add this asset. He predicts that there\u2019s a considerable chance the bill may not pass the Senate\u2019s approval, although the House gives its go-signal. Related Reading: Shiba Inu Price Watch: 60% Rally Catches Whale Attention \u2013 Is More Growth Ahead? Novogratz remains bullish on Bitcoin and advises the US government to acquire more and double down on its campaign to promote digital assets. He added that the government doesn\u2019t need to support the USD with other assets. In the same Bloomberg interview, he further shared that he\u2019s heavily invested in Bitcoin and will welcome the possibility of the reserve bill getting approved. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":653357,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,6664,2209],"class_list":["post-653334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-crypto","tag-gold"],"acf":[],"yoast_head":"\n
Bitcoin To $800K? Galaxy Digital CEO Unveils 5-10 Year Forecast<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n