Galaxy Digital CEO Mike Novogratz is outlining how he thinks Bitcoin (BTC) will switch after the US votes for a novel president.
In a novel interview on the Unchained YouTube channel, Novogratz says that Bitcoin will spark a novel bull market no topic who wins the US presidential high-tail.
But he predicts that the Bitcoin bull market will be a minute delayed if Democratic candidate Kamala Harris comes out on top.
“I suspect on a Trump salvage, we damage $73,000 and crawl a lot higher hasty. On a Harris salvage, we per chance flush exact down to excessive $50,000s [to] low $60,000s, bottom after which pause up going up intellectual quick.”
While the crypto billionaire holds a rosy verify on the arrangement ahead for BTC, his outlook on the US fiscal grunt is bleak. Novogratz believes that the single arrangement out for the US to pay off its characterize-excessive debt is to debase the greenback at the be concerned of runaway inflation.
“True so I’m in point of fact selected my macro verify, I suspect the probability of the US getting its act collectively is fundamentally low. I suspect in point of fact practically the very best we are able to hope for is fundamentally talented folks spherical the table who can dawdle inflation at 4% to 5% nonetheless now not have it high-tail and slowly inflate away this debt.
And in that case, Bitcoin must level-headed crawl higher.”
At time of writing, the nationwide debt of the US stands at $35.866 trillion.
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