#Gate Latest Proof of Reserves Reaches 10.453 Billion Dollars#
Gate has released its latest Proof of Reserves report! As of June 2025, the total value of Gate’s reserves stands at $10.453 billion, covering over 350 types of user assets, with a total reserve ratio of 123.09% and an excess reserve of $1.96 billion.
Currently, BTC, ETH, and USDT are backed by more than 100% reserves. The BTC customer balance is 17,022.60, and Gate’s BTC balance is 23,611.00, with an excess reserve ratio of 38.70%.The ETH customer balance is 386,645.00, and Gate’s ETH balance is 437,127.00, with an excess reserve
Novogratz Explains How Bitcoin (BTC) Can Surge to $1 Million
During a recent appearance on Schwab Network, Galaxy CEO Mike Novogratz predicted that Bitcoin could potentially surge to $1 million
Novogratz has explained that gold is roughly a $20 trillion asset while Bitcoin remains a $2 trillion asset
Bitcoin, according to the crypto mogul, will see greater adoption among younger investors
"We had Warren Buffett retire. Charlie Munger passed away. They didn't like Bitcoin. They are not Bitcoin people, but I bet their grandkids are," Novogratz said
The crypto billionaire believes that there is an ongoing wealth transfer from baby boomers, the generation born between 1946 and 1964, to younger generations
The prominent American investor first started buying Bitcoin back in 2013.
Fortress’s macro hedge fund, which was led by Novogratz, collapsed in 2015 due to being exposed to the Swiss franc and Brazllinas assets. Following the fund's closure, Novogratz launched crypto firm Galaxy Digital in 2017
The crypto bet paid off massively, and the net worth of the American investor is now estimated to be around $4.4 billion
As reported by U.Today, Novogratz previously predicted that gold might end up getting eclipsed by Bitcoin within the next eight years
Last month, he predicted that the cryptocurrency could spike to $150,000 in the near future