Billionaire Crypto Bull Mike Novogratz Is Anti U.S. Economy & Pro Bitcoin

Billionaire crypto bull and Galaxy Digital CEO Mike Novogratz, just made a few incendiary comments on the US economy, and its impact on the case for Bitcoin…

Novogratz believes the US is heading towards a credit crisis and a dramatic economic slowdown, making Bitcoin a glowing canditate to pave the way to a brighter future.

In an interview with Bloomberg, Novogratz pointed out that the failure of Silicon Valley Bank has “re-galvanized” the crypto community, highlighting Bitcoin’s initial use case as a safer alternative to traditional finance. He stated that “we have too much debt in the US and abroad, and this debt orgy we’ve all been on for so long has a price to pay.”

Novogratz is very optimistic, as despite the gov’s increased regulatory scrutiny & pressure on banks not to lend to crypto companies, crypto prices are higher than ever.

In fact, crypto markets have been on a tear recently, despite the broader downturn in risk assets like stocks. According to Messari, Bitcoin and Ethereum are up 51% and 37% in the past three months, with the overall crypto market cap at $1.28 trillion. Bitcoin notched a 10-month high earlier this week, surging past $30,000.

Novogratz also commented on the government’s regulatory crackdown on crypto, saying that the government has gone “full jihad against crypto” pressuring banks not to lend to crypto companies and issuing subpoenas and Wells notices.

Overall, Novogratz’s comments provide an interesting perspective on the current state of the US economy and its potential impact on the crypto market. As the economic environment becomes more uncertain, investors may increasingly turn to Bitcoin and other cryptocurrencies as a hedge against inflation and economic turmoil…