Novogratz said that if the Bitcoin price reaches $1 million next year,
Novogratz warned that this was not a victory, but rather a sign that the US economy was facing a serious crisis.
In an interview with host Natalie Brunell on the "Bitcoin Stories" podcast, he said he expects Bitcoin to hit $1 million next year.
"I said to the rejoicing crowd, 'Ladies and gentlemen, things have to be really bad in the United States for that price to come to fruition.'
His comments come as Bitcoin hit an all-time high of $124,128 this week.
He also said, "I would choose the United States, where the price of Bitcoin is low but stable," adding, "Serious currency devaluation will ultimately cause great damage to society as a whole."
As prices fall, investors seek alternative safe havens to preserve their wealth, and in the process, Bitcoin is often referred to as "digital gold."
All Streets expressed a similar view in an interview with Cointelegraph Magazine last July, saying, "The faster it rises, the worse the world becomes."
However, some Bitcoin proponents continue to tout the possibility of hitting $1 million by 2026.
Founder Arthur Hayes predicted in October 2023 that bitcoin could rise from $750,000 to $1 million, and more recently predicted it could reach $250,000 by the end of this year.
Jan3 founder Samson Mow has also repeatedly claimed that the total will reach $10 million.
Mow said in June that "either this year or next year, Bitcoin will reach 10
Meanwhile, Novogratz also expressed concern about the ongoing US debt problems.
"While I support Scott Becent and believe in his integrity, he has failed to adjust the debt-to-GDP ratio," he said.
"The budget deficit will not decrease, but will likely grow even larger," he said. He also pointed out that the recent increase in the number of companies adopting Bitcoin financial strategies has led to an overheating trend.
"This is how bubbles usually look. Right now it's like a taxi driver asking about a company's financial strategy," he said, adding that Galaxy Digital receives an average of five inquiries from new companies per week.
He revealed that he has received inquiries regarding the introduction of Bitcoin accounting.
2025/08/18 11:40 KST
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