The CEO of Galaxy Digital, Mike Novogratz, said that a Bitcoin at a million dollars next year would not be a victory but rather a sign that the American economy is in great difficulty.
“People who encourage the price of bitcoin to a million dollars next year, I said to myself, the guys, that is only if we are in such a crappy place at the national level,” Novogratz told Natalie Brunel on the podcast of the stories of pieces on Wednesday.
Novogratz prefers stability on BTC prices arrow
“I prefer to have a lower bitcoin price in the United States more stable than the opposite,” said Novogratz, explaining that severe money devaluations are often at the expense of civil society.
When a national currency falls, investors often look for alternative shelters to protect their wealth, and Bitcoin (BTC) is frequently called digital gold.
Crypto Wolf analyst from all streets echoes a similar feeling in an interview with Cointelegraph Magazine in July 2023: “The more it happens, the worse the world.”
However, several bitcoiners have speculated on the possibility of a bitcoin at a million dollars by 2026. One of them is the founder of Bitmex, Arthur Hayes, who declared in October 2023 that he expects him to expect Bitcoin to be $ 750,000 to $ 1 million at that time. He was recently expressed more on his Bitcoin prediction reaching $ 250,000 by the end of this year.
More recently, the founder of Jan3, Samson Mow, told Cointelegraph magazine in June that Bitcoin could reach $ 1 million “perhaps this year, maybe next year.”
Novogratz says Scott besse “fail”
Novogratz has also expressed his concerns about the current debt problems in the United States. He suggested that the decision of US President Donald Trump to call on the Treasury Secretary Scott Bessent did not have the expected result.
“As much as I like Scott Bessent and I think he meant everything he said, he fails to fold the debt to the GDP,” said Novogratz.
“The deficit will be higher, not lower,” he added.
Novogratz is nervous about the Bitcoin treasure game
Novogratz warned that the growing adoption of Bitcoin cash companies could become a bubble.
“I am a little nervous in general that there is what looks like a frenzy,” he said, revealing that Galaxy Digital receives about five calls every week new companies adopting the asset on the balance sheet.
In relation: The earnings raised from all Bitcoin time disappeared a few hours later: this is why
“At one point, that’s what bubbles look like, when the taxi driver questions the balance sheet company,” he said.
It only occurred a few months after the venture capital company (VC) shared similar concerns.
Breed argued that some Bitcoin cash companies will resist the test of time and will avoid the vicious “death spiral” which will have an impact
Review: Ether Eyes $ 6K As the supply plunges, the legal saga of Justin Sun: Hodler’s Digest, August 10-16, 16