tl;dr
Mike Novogratz, CEO of Galaxy Digital, emphasizes the significance of Bitcoin hitting $100,000 as proof of adoption and a generational wealth transfer. Bitcoin achieved this milestone for the first time in history on the Bitstamp exchange at 2:33 a.m. UTC. Novogratz had previously predicted this mil...
Mike Novogratz, CEO of Galaxy Digital, highlights the significance of Bitcoin reaching $100,000 as evidence of adoption and a forthcoming wealth transfer. Bitcoin achieved this milestone for the first time on the Bitstamp exchange at 2:33 a.m. UTC, far surpassing Novogratz's previous 2024 prediction. With a market cap exceeding $2 trillion, Bitcoin accounts for 52.7% of the entire market and is poised to surpass Alphabet by market capitalization. The surge past $100,000 followed Federal Reserve Chair Jerome Powell's recognition of Bitcoin as a digital form of gold and not a competitor to the U.S. dollar. Additionally, the industry is optimistic after pro-crypto libertarian Paul Atkins was nominated to lead the U.S. Securities and Exchange Commission. Bitcoin is currently trading at $102,514 and reached a record peak of $103,679 earlier today, marking a 142% increase so far.
Novogratz stresses the importance of Bitcoin reaching $100,000, stating that "it’s proof of adoption, belief, and a community that has carried this revolution from 0 to 100." He also emphasized that "young people like digital assets a lot more than old people," predicting "the greatest wealth transfer in the planet's history."
The market cap of Bitcoin has surpassed $2 trillion for the first time, accounting for 52.7% of the entire market. This surge follows Federal Reserve Chair Jerome Powell's acknowledgment of Bitcoin as a digital form of gold and not a competitor to the U.S. dollar. The industry is optimistic after pro-crypto libertarian Paul Atkins was nominated to lead the U.S. Securities and Exchange Commission. Bitcoin is currently trading at $102,514 after reaching a new record peak of $103,679 earlier today, marking a 142% increase thus far.