Galaxy tips Bitcoin NFT market to hit $4.5B by 2025

Captured By Tracy D'souza / 3:30 pm on 4 March 2023

Galaxy’s estimation was based on the rapid uptick of interest in Bitcoin NFTs, currency market infrastructure, and the potential to take some market share away from Ethereum. In a “base case” scenario, Galaxy Digital’s research unit has tipped the burgeoning Bitcoin nonfungible token (NFT) market to hit a $4.5 billion market cap by March 2025. Bitcoin NFTs, or Ordinals, have attracted significant attention since the Ordinals protocol launched in late January, enabling users to inscribe data such as images, PDFs, video and audio onto individual satoshis — each representing 0.00000001 Bitcoin