Mike Novogratz warns of Bitcoin reaching a million dollars in 2026.
Novogratz says Treasury Secretary Scott Pruitt is not reducing U.S. debt as promised.
He expresses concern about the madness of Bitcoin treasury companies.
Bitcoin reached a new record high of $124,128 this week, but Mike Novogratz, CEO of Galaxy Digital, does not expect it to reach a million dollars next year#اقتصاد_رقمي
Speaking on the 'Coin Stories' podcast with Natalie Brunell on Wednesday, he said that Bitcoin reaching a million dollars in 2026 means the American economy is in big trouble.
I prefer to see a low Bitcoin price and stability in the country rather than high prices being associated with economic chaos. When a country's currency loses its value, people often turn to Bitcoin as a safe place to store wealth, like digital gold.
In brief, Bitcoin
Novogratz also spoke about the escalating debt problem in the United States. He said that President Trump's nominee for Treasury Secretary, Scott Pruitt, has not succeeded in reducing the debt as promised, and the deficit is continuously increasing.
Bitcoin is up 99% over the past 12 months.
Furthermore, Novogratz fears the possibility of a bubble in Bitcoin treasury companies, where companies hold Bitcoin as part of their financial strategy. He said Galaxy Digital receives about five calls a week from new companies wanting to take advantage of this trend.
He likened it to a bubble when everyone, even a taxi driver, starts talking about it. But other cryptocurrency experts have different opinions. Arthur Hayes, founder of BitMEX, expects Bitcoin to reach $250,000 by the end of this year, and perhaps reach a million dollars by 2026.
Samson Mow, founder of Jan3, believes that reaching a million dollars is possible soon. But cryptocurrency analyst Wolf of All Streets warned last year. This rapid price increase could mean that the world is in bad shape. Investment firm Breid recently stated that only a few Bitcoin companies will survive, while others could collapse if their value is tied to their assets.
With Bitcoin price fluctuations and increasing economic fears, Novogratz's cautious opinion reminds us that the massive price surge could cause bigger problems for the country.