Mike Novogratz, founder of Galaxy Digital, shared his views on institutional adoption and the future of Bitcoin.
The price of Bitcoin has remained relatively stable over the past week as investors await the next major catalyst in the crypto market.
After two consecutive weekends of high volatility, the market has slowed down and investors are reevaluating their positions following last week’s liquidation event, according to Wintermute OTC trader Jake O.
At the Ondo Summit last week, Galaxy Digital CEO Mike Novogratz shared his thoughts on the broader crypto landscape. He predicted an increase in public listings for crypto-related companies:
“We’ve been waiting 4.5 years, there’s a new SEC, and I think in May or June you’ll see a number of companies listed on the New York Stock Exchange or Nasdaq,” Novogratz said.
The event also shed light on institutional interest in crypto. Novogratz recalled a meeting attended by Peter Thiel, Mark Zuckerberg, and around 20 crypto CEOs, which he saw as a bullish signal for the sector.
He went a step further, suggesting that Bitcoin could find its way onto government balance sheets within the next six months, positioning itself as a recognized store of value.
Novogratz revealed that the head of a large sovereign wealth fund recently cut him a check for $500 million to invest in Bitcoin.
This signals increasing institutional FOMO, with sovereign funds potentially taking the lead in large-scale crypto investments.
*This is not investment advice.
