Galaxy Digital CEO Mike Novogratz believes a million-dollar Bitcoin in 2024 would indicate serious trouble for the US economy. He prioritizes stability over soaring BTC prices, warning of the negative implications of severe currency devaluations. Novogratz expresses concern over the US debt situation and the potential bubble forming with Bitcoin treasury adoption.

Crypto analyst Wolf Of All Streets and BitMEX founder Arthur Hayes have also commented on the possibility of a million-dollar Bitcoin by 2026. However, Novogratz warns that the current frenzy of Bitcoin treasury companies could lead to a bubble. He is cautious about the growing adoption of Bitcoin on balance sheets and the potential risks involved.

Novogratz expressed doubts about the effectiveness of Treasury Secretary Scott Bessent in managing US debt issues. He believes the deficit will continue to rise and is wary of the Bitcoin treasury play turning into a speculative bubble. Breed, a venture capital firm, also shared concerns about the sustainability of Bitcoin treasury companies in the long run.

Read more at Cointelegraph: Novogratz Worries About Economy If Bitcoin Reaches $1M In 2026