Galaxy Digital CEO: Institutional Adoption Drives Bitcoin to Over $30,000

Editor's Note: This article comes fromCointelegraph Chinese (ID: CointelegraphChina), Author: TURNER WRIGHT, reprinted by Odaily with authorization.

Editor's Note: This article comes from

Cointelegraph Chinese (ID: CointelegraphChina)express, Author: TURNER WRIGHT, reprinted by Odaily with authorization.BTCGalaxy Digital founder and CEO Mike Novogratz believes that institutional investors are helping fuel the current Bitcoin bull market.

Novogratz in an interview with BBC World News

Bitcoin (thinkNovogratz said: "Now we see companies like PayPal with 340 million customers, as well as some large insurance companies in the United States, offering bitcoin services and selling bitcoin. As institutions enter, bitcoin supply is running out."discloseMacro investor Raoul Pal echoes Novogratz's bullish sentiment, heETHIf the trend continues, the price of bitcoin could rise to "between $400,000 and $1.2 million" by the end of the year. Pal in Novemberexpressdisclose

, who invested 98% of his net worth in Bitcoin and Ethereum (),but heexpress

You “still don’t invest enough in yourself.”Novogratz has also changed his mind about the proportion of Bitcoin allocated in the portfolio. Before last November, the Galaxy Digital CEO said bitcoin investors should invest 3 percent of their portfolio in bitcoin and hold it for five years. However, last month,He advocates for new investors to invest 5% of their portfolio in Bitcoin, because “Bitcoin will not go to zero.”。