Galaxy Digital CEO Mike Novogratz has cautioned that if Bitcoin hits the $1 million mark next year, it wouldn’t necessarily be good news — but rather a signal that the U.S. economy is facing severe problems.
Speaking on the Coin Stories podcast with Natalie Brunell, Novogratz said:
“People excited about a million-dollar Bitcoin next year need to understand — it would only happen if things were going terribly wrong in the U.S.”
Stability over sky-high BTC prices
Novogratz emphasized that he’d rather see moderate Bitcoin growth alongside a healthy U.S. economy than a rapid surge caused by instability. He explained that dramatic collapses in national currencies typically erode civil society, forcing investors to rush toward alternative assets like Bitcoin — often dubbed “digital gold.”
This perspective echoes comments made by crypto commentator Wolf Of All Streets back in mid-2023:
“The faster it happens, the worse the world is.”
Predictions of $1M Bitcoin
Despite Novogratz’s caution, several prominent figures in the crypto space remain bullish on six-figure (and beyond) price targets. BitMEX co-founder Arthur Hayes predicted in late 2023 that Bitcoin could rise to between $750,000 and $1 million by 2026. More recently, he’s highlighted a $250,000 target by the end of this year.
Meanwhile, Samson Mow, founder of Jan3, has suggested Bitcoin could reach the $1 million milestone sooner than expected — possibly this year or the next.
Concerns over U.S. debt and policy
Beyond Bitcoin’s price, Novogratz also raised concerns about America’s mounting debt. He criticized Treasury Secretary Scott Bessent, brought in by President Donald Trump, saying his impact has fallen short of expectations.
“At some point, it feels like a bubble,” Novogratz added. “When even the cab driver starts asking about corporate balance sheets, that’s the kind of signal you don’t want to ignore.”
These remarks align with warnings issued by venture capital firm Breed earlier this year. Breed argued that only a handful of Bitcoin treasury companies will survive long term, while many others — particularly those trading close to their net asset value (NAV) — risk falling into what it described as a “death spiral.”
Download the FREE Bitcoin Mining eBook
Kickstart your mining journey with essential insights:
https://bitmernmining.com/landing-page-ebook-download/
For more news, find me on Twitter Giannis Andreou and subscribe to My channels Youtube and Rumble
What is your opinion on this particular topic? Leave us your comment below! We are always intere
