Mike Novogratz, the founder and CEO of Galaxy Digital, has forecasted a major shift in the cryptocurrency industry.
Speaking at the Ondo Summit, he predicted that with new leadership at the U.S. SEC, a large number of cryptocurrency companies are expected to be listed on the New York Stock Exchange (NYSE) or Nasdaq by May or June this year.
A Long-Awaited Opportunity
Novogratz’s comments come at a time when crypto markets have seen relatively low volatility. Investors are looking for the next big market-moving event, and the prospect of publicly traded crypto companies could be a game-changer.
Galaxy Digital itself has been eyeing a public listing for years. “We’ve been waiting 4.5 years,” Novogratz said, emphasizing how the evolving regulatory landscape could now make this a reality. He believes the new SEC leadership will create a more favourable environment for crypto firms to access traditional financial markets.
This expectation aligns with growing institutional interest in digital assets. More crypto-focused companies gaining access to major stock exchanges could boost market legitimacy and attract more institutional investors.
Growing Institutional Interest in Bitcoin
During the panel, Novogratz highlighted the increasing presence of crypto executives in elite financial and political circles. He mentioned attending a gathering that included Peter Thiel, Mark Zuckerberg, and around 20 crypto CEOs, signalling that the industry is gaining influence at the highest levels.
One of Novogratz’s boldest claims was that Bitcoin could be on the U.S. government’s balance sheet within six months. He suggested that if the government begins accumulating BTC, sovereign wealth funds and institutional investors will likely follow suit.
He also shared an anecdote about meeting with the head of one of the world’s largest sovereign wealth funds. According to Novogratz, the fund was preparing to make its first $500 million investment in Bitcoin.
This suggests that large financial institutions are beginning to take cryptocurrency seriously as a store of value.
Also Read: US Universities And Foundations Bet On Bitcoin Amid Growing Institutional Adoption
Addressing the Crypto Bubble Debate
Joining Novogratz on the panel was Dan Morehead, the founder of Pantera Capital, who pushed back against claims that crypto is in a bubble.
“How can you have a bubble that nobody owns?” Morehead asked, noting that the median institutional investor still has zero exposure to blockchain assets.
He pointed out that even a small portion of the $500 trillion in global assets shifting into crypto would have a significant impact. Given recent conversations with institutions, he expects this transition to accelerate in 2025.
Crypto on NASDAQ
Phoenix Group is exploring strategic dual listing options with top investment banks, including Nasdaq, for a potential public offering in 2025. This move underscores the growing interest of Middle Eastern companies in international stock exchanges.
Meanwhile, Japan’s Coincheck, the country’s second-largest cryptocurrency exchange, is set to make history by listing on Nasdaq, marking a significant milestone for the Japanese crypto industry.
Bitcoin’s Price Fluctuations: A Buying Opportunity?
Bitcoin has experienced some price volatility, recently pulling back from a high of $109,000 to around $97,650 as of Monday afternoon. When asked if BTC could drop further—to levels around $80,000—Novogratz acknowledged the possibility but dismissed concerns about its long-term trajectory.
“That doesn’t invalidate this space at all,” he said. “Quite frankly, that’s the buying opportunity.”
With regulatory shifts, increasing institutional interest, and a potential wave of crypto listings on major stock exchanges, the industry could be on the verge of a new phase of mainstream adoption.
Novogratz’s predictions, if realized, could mark one of the biggest moments for crypto in traditional finance. Whether Bitcoin lands on government balance sheets or crypto firms flood into the NYSE and Nasdaq, the next few months will be pivotal for the industry.
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