Mike Novogratz Warns Million-Dollar Bitcoin Signals US Economic Distress

Despite cryptocurrency enthusiasts’ dreams of a million-dollar Bitcoin price tag, Galaxy Digital CEO Mike Novogratz argues that such a surge wouldn’t be a testament to the crypto market’s strength. Instead, he believes it would indicate deeper trouble in the U.S. economy. In an interview with Coin Stories podcast, Novogratz explained that a major rise in Bitcoin price would only occur if the U.S. was facing extreme financial instability, including a collapsing dollar and spiraling debt. According to him, a stable nation with a moderate Bitcoin price is preferable to one struggling under unsustainable conditions.