Galaxy Digital CEO Predicts Bitcoin to Reach $1 Million as Institutional Adoption Surges

Galaxy Digital CEO Mike Novogratz has reiterated his bullish stance on Bitcoin, predicting that the digital currency could reach $1 million per coin. In an interview, Novogratz outlined a scenario where Bitcoin gradually displaces gold as a store of value, driven by younger generations and expanding institutional adoption. He emphasized that the bull case for Bitcoin is based on a broader shift in the global financial paradigm, with macro-level adoption already underway. Novogratz highlighted that various entities, including treasury companies, sovereign wealth funds, and retail investors, are increasingly buying Bitcoin. This institutional interest is helping to legitimize Bitcoin as a modern-day alternative to traditional safe havens like gold.

Novogratz's outlook is supported by the rise of institutional Bitcoin investment vehicles, such as BlackRock’s spot Bitcoin ETF, which has accumulated significant assets under management. This product provides traditional investors with exposure to Bitcoin without the complexities of self-custody, making it easier to add the asset to a portfolio. Novogratz believes that this systemic shift, rather than speculative hype, is laying the foundation for Bitcoin’s long-term growth.

Novogratz is not alone in his bullish predictions. Cathie Wood’s ARK Invest and Strategy co-founder Michael Saylor have also made headlines with their long-term price projections for Bitcoin, citing continued institutional inflows and technological innovation. Bitcoin’s fundamentals have continued to strengthen, with an annual price appreciation of over 50%. Despite short-term volatility, the longer-term trend remains bullish, particularly as macroeconomic conditions favor hard assets amid concerns of inflation and fiat currency debasement.

Meanwhile, Mercurity Fintech Holding, a digital finance firm focused on blockchain-based payment infrastructure, announced plans to raise $800 million in capital to create a long-term Bitcoin treasury reserve. The move places the company among a growing list of corporations integrating Bitcoin into their balance sheet strategies as institutional adoption of crypto assets accelerates worldwide. Mercurity’s proposed capital raise would enable the company to purchase approximately 7,433 Bitcoin, catapulting it into the 11th spot among corporate Bitcoin holders globally.

The initiative reflects a growing corporate trend of transitioning idle treasury funds into digital assets with long-term upside and inflation-hedging potential. Mercurity said it plans to structure the reserve in a way that generates yield while maintaining strategic exposure to Bitcoin as a long-duration asset. The reserve will integrate with blockchain-based treasury management services, reinforcing the company's commitment to decentralized financial systems.

Mercurity’s announcement comes amid a surge in corporate interest in Bitcoin. Recent figures reveal that over 223 public companies now hold Bitcoin in their treasuries, up from just 124 earlier this month. These firms collectively control over 819,000 BTC, equivalent to nearly 3.9% of Bitcoin’s total supply. Firms like Strategy, Galaxy Digital, and Tesla have already paved the way for Bitcoin to become a legitimate corporate reserve asset. While Bitcoin remains the primary asset of choice for corporate treasuries, alternative cryptocurrencies are also gaining traction, underscoring a broader institutional appetite for blockchain-based assets.

Despite the optimistic outlook, several factors could slow Bitcoin’s ascent to $1 million. Regulatory uncertainty remains a significant concern, especially in jurisdictions with tightening scrutiny on crypto markets. Moreover, the pace of institutional adoption, while growing, still faces hurdles in terms of infrastructure, security, and risk management. Critics also point to Bitcoin’s scalability and energy consumption as challenges to mass adoption, although proponents argue that these issues are being mitigated by innovations in layer-2 scaling solutions and growing use of renewable energy in mining operations.

Novogratz’s vision for Bitcoin is not predicated on short-term price action but on a multi-decade transformation of global finance. As the asset becomes more embedded in the portfolios of corporations, sovereign wealth funds, and everyday investors, its utility as a digital store of value could rival or even exceed that of gold. Whether Bitcoin will eventually reach the $1 million milestone remains to be seen. But if the current trajectory of adoption, innovation, and institutional integration continues, Novogratz’s projection might be less far-fetched than it seems.