In a recent interview, Michael Novogratz, the CEO of Galaxy Digital, provided a careful analysis of the future of Bitcoin. Despite recognizing the short-term risk of a potential price decrease to $42,000, he expressed a more positive outlook for the long term due to increased institutional adoption and a growing market maturity. Reddit has joined the cryptocurrency community by revealing its investments in Bitcoin and Ether. Obstacles hindering progress towards earning $69,000. Novogratz remained optimistic about the future potential of Bitcoin, even in the face of potential price declines due to market conditions or regulatory factors. He was most worried about a sell-off in an overinflated market and uncertainty regarding regulations. During a CNBC interview, he mentioned that there could potentially be some regulatory complications. He believes that future growth will be driven by institutional adoption in the expanding ETF sector, which currently oversees $42 trillion. With increasing interest from investors, the dominant cryptocurrency could surpass its previous peak and beyond, in line with the upbeat forecast of Tom Lee. Could institutional investors be the new supporters of Bitcoin?