The post Why Novogratz Says a Million-Dollar Bitcoin Would Be Bad News appeared on BitcoinEthereumNews.com.

Bitcoin bulls love to dream about a million-dollar price tag, but Galaxy Digital CEO Mike Novogratz says that kind of rally next year wouldn’t be a victory lap for crypto—it would be a warning sign for the United States. In his latest remarks, Novogratz explained that such a surge would only happen if the U.S. economy was in chaos, with the dollar collapsing and debt spiraling out of control. For him, a stable nation with a modest Bitcoin price is far preferable to a sky-high valuation born out of crisis. The Hype Around a $1 Million Bitcoin In the crypto world, few predictions get people talking like the idea of Bitcoin hitting one million dollars. To some, it represents validation of Bitcoin as the ultimate store of value. But according to Galaxy Digital CEO Mike Novogratz, cheering for such a price point in the near future misses the bigger picture. Speaking on the Coin Stories podcast, Novogratz warned that if Bitcoin climbs to $1 million next year, it would likely signal deep trouble in the U.S. economy rather than a healthy crypto victory. Stability Over Skyrocketing Prices Novogratz put it bluntly: he would rather see Bitcoin stay lower if it meant the United States remained stable. A soaring Bitcoin price often signals weakness in traditional financial systems, especially the U.S. dollar. When national currencies lose value, investors flee to alternatives like gold or Bitcoin to protect their wealth. That kind of move, he said, comes at the expense of civil society, often fueling inflation, social unrest, and broken trust in government institutions. Concerns Over U.S. Debt and Policy A key part of Novogratz’s caution lies in America’s worsening debt picture. He pointed out that the appointment of Treasury Secretary Scott Bessent by President Trump hasn’t delivered the expected fiscal improvements.…

---

Filed under: News - @ August 17, 2025 5:28 am