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Billionaire Mike Novogratz Says Abrupt Bitcoin Explosion to $1,000,000 Is the Last Thing He Wants – Here’s Why

source-logo  dailyhodl.com 19 April 2023 12:21, UTC

The founder and CEO of Galaxy Digital, Mike Novogratz, says that he hopes the US economy remains strong and Bitcoin (BTC) doesn’t hit seven figures within a short period.

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

“I don’t want Bitcoin to go to $1 million anytime soon.”

According to Novogratz, Bitcoin going to a million would mean that instability in the US 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 goes to $1 million, we’ve got instability, we lose civil society and we’re all screwed…”

Bitcoin is trading at $29,943 at time of writing.

Referring to the bet publicly made by former Coinbase executive Balaji Srinivasan last month that Bitcoin will hit $1 million by around mid-June, Novogratz says that such a stance hurts the cause of the crypto industry among regulators.

“When guys like Balaji say ‘I will bet you Bitcoin’s in a million’ for a fact, it drives me crazy because I think it also really infuriates the people at U.S. Treasury Department…

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


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