Galaxy Digital CEO Mike Novogratz Gives Reasons to Buy BTC

Due to a rapid rise in US public debt, Mike Novogratz, CEO of Galaxy Digital, believes that purchasing Bitcoins is a form of capital protection.

Economist estimates show that the US government now pays close to $970 billion to holders of Treasury bonds; this number is $41 billion higher than the second quarter of 2023.

In the near future, interest payments on Treasury bonds could be more than $1 trillion, which is more than 20% of all US tax revenue.

To emphasize this, Novogratz tweeted his subscribers to reiterate the need to buy Bitcoin.

He believes that the higher the Federal Reserve’s rate, the greater the strain on the US financial sector, which could lead to the loss of Americans’ savings.

The CEO has made similar comments before, suggesting that eventually Bitcoin might have a higher capitalization than gold.

Now, however, the cryptocurrency is in a period of consolidation and is unlikely to surpass $32,000 in the near future, he told Bloomberg in July.