Novogratz: Adoption and Macro Risk Could Push Bitcoin to $1M

I believe Mike Novogratz’s argument that Bitcoin can reach $1,000,000 rests on two clear drivers: broad social and institutional adoption, and prolonged fiscal or macroeconomic stress that pushes investors toward stores of value.

Institutional recognition — such as endorsements from large asset managers — plus deeper cultural acceptance improve liquidity and legitimacy, making a sustained rally more plausible than a short-lived spike.

I agree that a gradual, demand-driven rise is preferable to a crisis-driven surge; investors should monitor adoption metrics and macro fiscal signals while managing position size and downside risk.