Mike Novogratz, the CEO of Galaxy Digital, has cautioned that a Bitcoin price reaching $1 million in 2026 might not be cause for celebration but rather a red flag for the U.S. economy. In a recent interview on the Coin Stories podcast with Natalie Brunell, Novogratz expressed concern that such a dramatic surge in Bitcoin’s value would likely indicate severe economic instability in the United States.
“People who are rooting for Bitcoin to hit a million dollars next year need to understand that it would only get there if the U.S. is in a really bad place economically,” Novogratz told Brunell during the Wednesday episode. He emphasized that a skyrocketing Bitcoin price would likely reflect deeper issues, such as significant currency devaluation or financial turmoil, which could destabilize civil society.
Novogratz highlighted that when a national currency weakens significantly, investors often turn to alternative assets to safeguard their wealth. Bitcoin, often dubbed “digital gold,” has increasingly been viewed as a hedge against economic uncertainty. However, Novogratz stressed that he would prefer a more stable U.S. economy with a lower Bitcoin price over a scenario where Bitcoin’s value surges due to economic distress. “I’d much rather see a stable United States with a lower Bitcoin price than the opposite,” he said.
His comments come amid growing discussions about Bitcoin’s role in the global financial system, particularly as a store of value during times of economic volatility. While some investors see Bitcoin’s potential price increase as a positive development, Novogratz’s perspective underscores the broader implications of such a surge, pointing to potential challenges for the U.S. economy and society at large.
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