Bitcoin: We Need Steady Growth, Not a Sudden Surge – Mike Novogratz
Mike Novogratz, the founder, and CEO of Galaxy Digital, recently shared his thoughts on Bitcoin and the US economy in an interview on The Prof G Show.
Novogratz expressed his hope that the US economy remains strong and that Bitcoin doesn’t experience a sudden surge to seven figures anytime soon, stating that such a surge would signify instability in the US, which he wants to avoid.
He explained that as someone who has served the country, he does not want to see civil society lost.
Novogratz also criticized Balaji Srinivasan’s recent bet that Bitcoin will hit $1 million by mid-June, stating that such statements could harm the crypto industry’s cause among regulators.
He believes that having regulators on the crypto industry’s side, rather than against it, is crucial, especially at a time when the dollar is under attack elsewhere.
Novogratz further elaborated on his stance, saying that he does not want Bitcoin to explode by over 3,000% from its current levels anytime soon.
He emphasized that he wants Bitcoin to grow steadily and sustainably rather than experience a sudden surge that could be detrimental to the industry. At the time of writing, Bitcoin is trading at $29,943.