Galaxy Digital CEO Mike Novogratz believes a million-dollar Bitcoin price next year wouldn’t be a sign of success, but rather evidence that the US economy is in dire straits. According to Novogratz, the rapid rise of Bitcoin prices could only occur if the US faces severe economic hardship. He stated he would prefer a lower Bitcoin price within a stable economy over one with extreme inflation and currency devaluation. He believes that during such times, investors often turn to alternative safe havens like Bitcoin, which is frequently referred to as digital gold. Novogratz’s comments echo those of crypto analyst Wolf Of All Streets, who expressed similar concerns in July 2023 about the rapid growth of Bitcoin prices and their potential negative implications for global economic stability.