Mike Novogratz, Billionaire Investor, Explains Why a Sudden Spike in Bitcoin to $1 Million is Undesirable

Mike Novogratz, Billionaire Investor, Explains Why a Sudden Spike in Bitcoin to $1 Million is Undesirable


The founder and CEO of Galaxy Digital, Mike Novogratz, reveals that he hopes the United States economy remains strong and Bitcoin (BTC) doesn’t hit 7 figures during a short period.

Novogratz says in a new interview on The Prof G Show that he is not looking forward to Bitcoin (BTC) exploding by over 3,000 percent from current levels “anytime soon.”

“I do not want Bitcoin (BTC) to go to $1 Million anytime soon.”

Reports by Novogratz, Bitcoin (BTC) going to a Million would mean that instability in the United States has set in, a situation he wouldn’t want materializing.

“As a guy who served the country, the last thing I want, because if Bitcoin (BTC) goes to $1 Million, we’ve got instability, we lose civil society and we’re all screwed…”

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Bitcoin (BTC) is currently worth $29,943 at the moment of writing. Referring to the bet publicly made by previous Coinbase Crypto exchange executive Balaji Srinivasan the previous  30 days that Bitcoin (BTC) will hit $1 Million by around mid-June, Novogratz reveals that such a stance hurts the cause of the cryptocurrency industry between regulatory authorities. “ And once guys like Balaji say ‘I will bet you BTC’s in a million’ for a fact, it drives me crazy because I think it likewise really infuriates the people at United States Treasury Department…

I think while the United States dollar is under attack elsewhere, it doesn’t help. And you want the regulatory authorities on your side not in your face.”



Generated Image: Midjourney


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