The Logic Behind Bitcoin's New High and Future Outlook

Bitcoin recently broke the $100,000 barrier, setting a new historical high. In response, Galaxy Digital founder Mike Novogratz stated that the growth of the Bitcoin market has entered an irreversible stage. He believes that this round of increase is mainly driven by several factors:

1. Adoption rate continues to rise, institutional investors are continuously entering the market.

2. The financial condition of the United States has deteriorated, and the budget deficit has exceeded expectations.

3. The status of the US dollar as a global reserve currency is being challenged, and investors are seeking safe-haven assets.

4. The regulatory environment is improving, and the SEC's attitude towards the crypto industry has turned positive.

5. Tokenized securities and other innovative applications are expected to drive the next wave of growth.

Novogratz emphasized that the true catalyst for attention in the financial sector will be stock tokenization. He stated that Galaxy is working with the SEC and plans to tokenize its own stock in the near future. This will be a significant milestone, marking the convergence of traditional finance and the crypto industry.

Regarding the regulation of stablecoins, Novogratz expects a 99% likelihood of the passage of the GENIUS bill. This bill will provide a clear legal framework for the development of stablecoins and will help promote the application of crypto payments in daily life.

Looking to the future, Novogratz believes that the cryptocurrency industry needs to shift from speculation to practicality, providing more real value for ordinary users. He expects that in the future, bank accounts, checking accounts, and even brokerage accounts will exist in the form of crypto wallets.

In addition, Galaxy is actively laying out its plans in the field of artificial intelligence, aiming to leverage its large data center in Texas to provide infrastructure support for AI development. Novogratz believes that there will inevitably be intersections and synergies between blockchain and AI in the future.

Overall, with the improvement of the regulatory environment and the continuous emergence of innovative applications, the crypto industry is迎来新一轮发展机遇. Innovations such as tokenized securities are expected to drive the industry into the next growth phase.