Prominent crypto investor and Galaxy Digital founder Mike Novogratz predicts that Bitcoin (BTC) could reach a record high of one million dollars ($1M). He cites the cryptocurrency’s growing adoption by institutions as a key driver for this potential surge. 2024 has already seen major institutional players like BlackRock actively engaging with Bitcoin, investing in exchange-traded funds (ETFs) and trusts, such as the iShares Bitcoin Trust that holds over $70 billion in assets under management. Novogratz believes this increasing adoption will propel Bitcoin closer to gold’s market cap. He further suggests that younger investors are likely to favor Bitcoin over gold in future due to its supply-capped nature.