Mike

Galaxy

Gold

Galaxy Digital CEO Mike Novogratz has <a href="https://cryptoslate.com/galaxy-ceo-predicts-bitcoin-market-cap-will-overtake-gold-in-5-to-8-years/" rel="nofollow noopener" target="_blank">reportedly</a> made a bold prediction on Bitcoin market cap: Industry insiders expect that within five to eight years, the overall market value of Bitcoin will surpass that of gold. His forecast discusses the exponential increase in the rate at which cryptocurrencies are being adopted by the market as an actual store of value, also known as the “digital gold.” 
<a href="https://www.qubetics.com/?utm_source=TNYR&amp;utm_medium=Bitcoin+Market+Cap+to+Overtake+Gold+in+8+Years%2C+Galaxy+CEO+Predicts" rel="nofollow noopener" target="_blank"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-24972" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/22ccc.jpg" alt="22ccc" width="728" height="90" title="Bitcoin Market Cap to Overtake Gold in 8 Years, Galaxy CEO Predicts 43"></a> 
This prediction comes as Bitcoin market cap reached a lifetime high of $108,000 on December 17th, clearly defining it as an asset. Novogratz’s comments were based on the head of Galaxy Digital Research, Alex Thorn, who established that the Bitcoin market cap currently stood at 140% of gold’s $17.8 trillion market capitalization. 
<h2 style="font-weight: 400;" id="strong-mega-warm-up-propels-fresh-growth-optimism-strong">Mega Warm-Up Propels Fresh Growth Optimism</h2> 
At the moment, Bitcoin’s market cap is $2.13 trillion, which is rather impressive compared to the growth rates of its primary rival, gold, with a total of $3.13 trillion in reserves in global central banks. Thorn dug into the charts and found that Bitcoin breaks for gold stock continue to rise and have already reached an absolute record. 
Novogratz continued this momentum, stating that the rise of BTC is inevitable, with institutional investors beginning to take interest in BTC and its demand as an inflation hedge. 
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The head of the Federal Reserve, Jerome Powell, recently recognized the asset by referring to it as a ‘digital form of gold’. However, to bring about a caution, Powell provided a list of the restrictions of Bitcoins. During a briefing held earlier this week, Powell said: “Although Bitcoin has become a topic of discussion as a new means of payment and investment tool, it has not yet addressed all the functions of a sovereign currency.” 
However, Powell’s conservative comment on the issue proved unproductive as they reported that Bitcoin ETFs have more remaining assets than gold ETFs. Bloomberg reports that Bitcoin ETFs possess $129.25 billion against $128.88 billion of gold ETFs. Of all of BlackRock’s ETFs, the standout performer has been the iShares Bitcoin ETF (IBIT) and even traded ahead of the established iShares Gold ETF (IAU). 
<h2 style="font-weight: 400;" id="strong-institutional-adoption-shifts-market-dynamics-strong">Institutional Adoption Shifts Market Dynamics</h2> 
It has been noted that the main cause of such popularity was the growing demand for Bitcoin among various institutions. It was seen that established financial giants such as BlackRock and Fidelity have issued investments in Bitcoin, bringing investments and legitimacy to this form of asset. 
This adoption is a key shift of new generations’ perception when it comes to investing. The scarcity of issues and the fact that every transaction in its circulation can be traced on the blockchain make Bitcoin interesting to those familiar with conventional means such as gold. 
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“I tend to think of Bitcoin as not just an investment vehicle, but as a revolution,” added Novogratz in an interview. “Indeed, as institutions persist to invest, the spread between Bitcoin and gold will be greatly reduced,” 
Self-confidence in Novogratz corresponds to patterns observed in other global markets. The other factor that has made Bitcoin popular is because of the expectation of the U.S. Federal Reserve for lower interest rates and the effectiveness of BTC in turbulent economic periods. 
<h2 style="font-weight: 400;" id="strong-future-prospects-for-bitcoin-market-cap-strong">Future Prospects for Bitcoin Market Cap</h2> 
Although analysts remain optimistic about Bitcoin, it is not going to be a smooth journey to getting to gold’s market capitalization. Some challenges that are closely associated with this technology include regulatory pressure as well as instabilities in the price structure that may hinder performance. Nevertheless, supporters claim that such problems are natural for any young, untested investment category. 
The primary digital currency has generated controversies with policymakers and economists reasoning about it. Some people continue to doubt its sustainability, while others view it as the new technologies that are revolutionising old-school banking. 
As for now, Bitcoin’s market cap movement seems irreversible. At the moment, there is a tendency for more financial institutions and also retail investors to accept the asset, and hence, the future of the same appears brighter. Thus, if Novogratz is to be believed, Bitcoin’s potential for revolutionizing the valuation of global assets exists within the decade ahead. 
<h2 style="font-weight: 400;" id="strong-conclusion-on-bitcoin-market-cap-strong">Conclusion on Bitcoin Market Cap</h2> 
Mike Novogratz’s claim that the Bitcoin market cap will surpass gold in the next eight years is a provocation based on the analysis of the available data. With increasing institutional uptake, an auspicious market environment and bitcoin’s maturing appeal as the ‘digital gold,’ the cryptocurrency is poised for qualitatively different advancement. 
However, it is still not without its problems and risks to which Bitcoin needs to respond both at the legislative level and with reference to its fluctuations in value. Again, whether or not it is above the position of gold in the financial food chain it is undoubtedly a turning moment in the management of financial markets globally. Keep following <a href="https://www.turkishnyradio.com/">Turkishnyradio</a> to keep an eye on Bitcoin Bitcoin Market Cap. 
<h3 style="font-weight: 400;" id="strong-faqs-strong">FAQs</h3> 
Why does Mike Novogratz think that the market cap of Bitcoin Market Cap will be more than that of gold? 
Squaring with Mike Novogratz, they highlight the record momentum of Bitcoin, the augmented institutional demand as well as its use as an inflation hedge. 
What is the current Bitcoin market cap compared to Gold? 
Currently, one Bitcoin has market cap of $2.13 trillion which is 14% of the gold’s $17.8 trillion market capitalization. 
What are the functions of Bitcoin ETFs in its market? 
Assets in Bitcoin ETFs have now surpassed gold ETFs showing the increasing demand for the cryptocurrency. 
Are there are threats to its growth? 
Yes the future of Bitcoin is somewhat limited by certain problems inherent to the system, including regulatory pressure and price fluctuation that affects its operations. 
<ol start="5"> 
 <li style="font-weight: 400;">How low and high is Bitcoin and it is currently rising or falling?</li> 
</ol> 
By Dec.17, 2024, the price of Bitcoin soars to new heights of $108,000, which are staunch, because of the solid market trends.

Bitcoin Market Cap to Overtake Gold in 8 Years, Galaxy CEO Predicts

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