Galaxy predicts Bitcoin NFT Market to reach $4.5 billion by 2025

The research unit of Galaxy Digital has predicted the growing Bitcoin NFT market to reach a market cap of $4.5 billion by March 2025.

Ordinals, also known as Bitcoin NFTs, have gained considerable attention ever since the Ordinals protocol was introduced in January 2023 to allow users to inscribe data like video, images, audio and PDFs on satoshis.

In terms of baseline analysis of Galaxy, the report mentioned that in case Bitcoin NFTs grow to mainstream NFT culture such as memes, PFPs and utility projects, the market cap has possibilities of increasing to $4.5 billion.

It was also noted that the $4.5 billion projection is in line with the swift development in inscription awareness combined with the marketplace/wallet infrastructure that’s already out.

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