Galaxy Digital CEO Mike Novogratz said the recent dip is temporary and expects Bitcoin to soon break out to $130,000–$150,000.
In the past two months, more than 60 companies have doubled their Bitcoin holding. Now all the companies together hold more than 3% of all Bitcoin available. In these companies, the top position is held by Strategy (NASDAQ: MSTR) with 580,955 BTC, followed by others like Matador Technologies, Galaxy Digital, Block Inc., and even GameStop.
This growing institutional interest will push BTC into a new price range. In the last month, Bitcoin price has crossed $111,000 before pulling back to the $105,000 level. At press time, Bitcoin price traded around $105,190 on Wednesday, June 4.
In the recent interview, Galaxy Digital CEO Mike Novogratz said the recent dip is temporary and expects Bitcoin to soon break out to $130,000–$150,000. He also noted that once Bitcoin reaches that range, it will enter a phase of price discovery.
Another analysis from Standard Chartered has reaffirmed its long-term bullish forecast. The bank says that Bitcoin price could soar to $500,000 before the end of Donald Trump’s current presidential term in January 2029.
The bank’s global head of digital asset research, Geoffrey Kendrick, cited increasing interest from large institutions as a key reason behind the projection. Kendrick pointed to SEC Form 13F filings as proof that a broader set of investors are entering the Bitcoin market.
He added that the consistent growth in filings bolsters their view that BTC’s institutional base will continue to grow. It will contribute to Bitcoin price increasing significantly in the long run.
Backed by this trend, Bitcoin ETFs are experiencing good inflows. Bitcoin ETFs attracted a net inflow of $375.10 million on June 3, 2025, indicating ongoing investor interest. As per SoSoValue, Bitcoin ETFs saw more than $5.23 billion in new investment in May, showing that big investors are feeling very positive about Bitcoin.
At the same time, Donald Trump’s social media firm, Truth Social, is also reportedly set to bring out a Bitcoin ETF. This might be the key driver behind Bitcoin’s next price rally.