Galaxy Digital CEO Mike Novogratz has predicted during an interview with Bloomberg TV that the price of Bitcoin will reach $500,000 much sooner than we expect.
According to him, over the next three years, the price of the crypto will reach this mark as global adoption of the cryptocurrency accelerates.
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By 2025, we will see the price of Bitcoin be in the region of $500,000 per coin. Novogratz has noted we are already seeing how institutional investors are setting their eyes on the cryptocurrency.
The billionaire believes Bitcoin is much more convenient than gold, and will soon surpass the precious metal in terms of capitalization. Mike Novogratz has repeatedly stated that, in terms of capitalization, Bitcoin could overtake gold in the medium term.
Bitcoin surpassed $41,000 last night, but due to renewed selling, the currency has fallen below this level.