The CEO of Galaxy Digital Mike Novoghatz has expressed its rejection of expectations that the price of bitcoin is likely to increase the price of bitcoin to a million dollars in the foreseeable warning that this scenario – if it is reached – will be an indication of the collapse of the American economy, and not of the success of digital currencies.
The most important points:
- Mike Novuogs has warned that the high price of Bitcoin at a million dollars will probably be a sign of the collapse of the American economy, not an achievement of digital currencies.
- The Treasury Secretary, Scott Bessent, criticized his inability to limit the debt and the financial deficit.
- Novuogs expressed his concern that the accelerated adoption of Bitcoin in their treasures began to take the form of a financial bubble.
In an interview with Natalie Brunell via Coin Stores on Wednesday, Novograzzzz said: “I say to enthusiasts of the high Bitcoin price at a million dollars next year that the price will only have at this level if the country is in a very bad situation.”
“It is preferable that the price of this currency remains low with the stability of the United States, not the other way around.”
Novogs: Bitcoin is a way to cover yourself when the value of traditional currencies is low
Novoghatz stressed that the value of traditional currencies considerably causes the demand for safe alternative paradise, with the use of digital gold – that is to say Bitcoin – as a means of covering itself against economic disorders, warning that such conditions can be done to the detriment of the stability of civil society.
These declarations comply with the previous warnings of analysts who have indicated that significant price movements are generally accompanied by instability. In July 2023, the famous merchant Scott Melker – known as the Wolf of all the streets – said to the magazine Cointelegraph: “The more quickly this height arrives, the more the world moves in a worse state.”
However, speculation on the price of bitcoin continues to reach a million dollars by 2026, and the founder of Bitmex Arthur Hayes suggested several times that the price of this currency had passed between $ 750,000 and a million dollars in two years, and recently indicated the price of $ 250,000 by the end of this year.
Far from the expectations of prices, Novujitsz expressed his concern about the financial situation of the United States, criticizing the Scott Bessent (Scott Bessent) appointed by President Trump for his lack of success in reducing the country’s growing debt.
Stories and lessons of a decade of crypto with Mike @Novogratz.
We are talking about $ GlxyThe transaction of 80,000 bitcoin, which Mike has the investment communities Regrits, Maxis and Altcoin, the rout of Bitcoin at $ 1 million and much more.
Timecodes:
00:00 Meet Mike Novoghatz: … pic.twitter.com/4hroi1jue5– Natalie brunch (@Natbrunell) August 12, 2025
“As much as Scott Beysent, I think he was sincere in everything he said, but he failed to reduce the proportion of religion to GDP (GDP), and I would like to increase the deficit more and more,” said Novujurat.
Novujoratz has also expressed its concern about the rapid increase in adoption by Bitcoin companies (Bitcoin), stressing that Galaxy Digital receives around 5 calls per week of companies wishing to add Bitcoin to their budget and added:
“This is exactly what I call the bubble, that is to say the taxi drivers are starting to discuss the budgets of companies.”
These warnings are frequent at a time when fears increase that only a few companies that adopt Bitcoin could continue, as the breed investment company has recently warned that many of these cabinets can go through increasingly difficult conditions if market conditions were worse.
CRIPTO cabinets do not really buy digital currencies
An increasing number of public shareholding companies collect hundreds of millions of dollars to create treasures of digital currencies, but one of the analysts has indicated that many companies do not really buy digital assets on the free market.
According to Ran Neuer, these companies often act as a means of leaving current investors instead of being real buyers, and instead of buying assets directly from negotiation platforms, these companies generally receive contributions to digital currencies from their current owners for actions which are then negotiated at high prices on public procurement.
Doubts on the sustainability of digital currency cabinets also increase. Last month, the chief analyst of Games Check (James Check) expressed his concerns concerning the permanence of the Bitcoin currency strategy, explaining that easy gains may have already ended for new arrivals with the maturity of the market.
These warnings comply with recent statements by Matthew Sigel, head of the Vaneck digital asset research department, who expressed his concerns about the Bitcoin Treasury strategies adopted by certain public companies.
The post, CEO of Galaxy: Bitcoin-BTC, at $ 2026, will be an indication of an economic crisis in the United States, and not a victory for digital currencies appeared first on Arab Cryptonews.
