Galaxy Digital CEO Predicts Bitcoin's Rise as Hedge Against USD Debasement

IconCryptoNewsTerminal Staff29 Jul, 2024

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Galaxy Digital CEO Predicts Bitcoin's Rise as Hedge Against USD Debasement

Mike Novogratz, the CEO of Galaxy Digital, predicts a surge in Bitcoin investments as a hedge against the potential devaluation of the US Dollar. In an interview with the Daily Hodl, Novogratz expressed concerns over the soaring government spending in the United States and the likelihood of excessive debt and spending. Novogratz suggests that investors may turn to Bitcoin as a means of preserving value amidst the uncertain economic outlook. He explains that the combination of rising debt and excessive spending could lead to a parabolic rise in the price of Bitcoin. The recent comments from Novogratz align with previous sentiments expressed by other industry experts. Galaxy Digital's CEO joins a growing chorus of voices predicting a potential surge in Bitcoin demand as a safe-haven asset. As the global economic outlook remains uncertain, investors may increasingly consider Bitcoin as a hedge against fiat currency volatility and potential devaluation.

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