Galaxy Digital CEO Mike Novogratz believes that institutional investors are playing a key role in driving Bitcoin’s price surge. He sees Bitcoin being increasingly viewed as a ‘macro asset’ like gold or silver and points to BlackRock’s recent support for Bitcoin as evidence of its growing acceptance within the financial system. Novogratz highlighted that Bitcoin’s limited supply structure, along with the increasing presence of institutions in portfolios, is accelerating its adoption. 2023 has seen a surge in institutional involvement, with treasury companies, sovereign wealth funds and individual investors all entering the market. The participation of these major players signifies Bitcoin’s growing prominence within the global financial system.