Galaxy Digital CEO Mike Novogratz told CNBC that Bitcoin is rapidly becoming a mainstream macro asset, poised to replace gold as a key store of value. “Bitcoin has become a macro asset,” Novogratz said, highlighting how it is now institutionalized and sits alongside gold, silver, and major stock indexes on investors’ screens—something unimaginable just ten years ago.
He noted the current “dollar bear market” environment, driven by U.S. policies and global shifts, is pushing investors toward alternatives like Bitcoin and other non-dollar assets. “Most macro funds are short the dollar and long other currencies as well as Bitcoin, gold, silver, platinum,” he explained.
A key driver behind Bitcoin’s growing appeal is its fixed supply. Novogratz emphasized, “There is no more Bitcoin. It was created with 21 million coins total… and many have been lost forever.”
Novogratz predicts that institutional adoption, including by major firms like BlackRock, will accelerate Bitcoin’s rise as a savings asset. Comparing Bitcoin’s current market cap to gold’s, he suggested Bitcoin could reach $1 million per coin to match gold’s market size, stating, “Bitcoin has a long way to go… 10x from here.”
