Galaxy Digital CEO Mike Novogratz is outlining how he thinks Bitcoin (BTC) will transfer after the US votes for a brand new president.
In a brand new interview on the Unchained YouTube channel, Novogratz says that Bitcoin will spark a brand new bull market no matter who wins the US presidential race.
However he predicts that the Bitcoin bull market shall be barely delayed if Democratic candidate Kamala Harris comes out on high.
“I believe on a Trump win, we break $73,000 and go loads increased quick. On a Harris win, we most likely flush all the way down to excessive $50,000s [to] low $60,000s, backside after which find yourself going up fairly fast.”
Whereas the crypto billionaire holds a rosy view on the way forward for BTC, his outlook on the US fiscal scenario is bleak. Novogratz believes that the one method out for the US to repay its record-high debt is to debase the greenback on the danger of runaway inflation.
“Simply so I’m actually clear on my macro view, I believe the prospect of the US getting its act collectively is actually low. I believe really virtually the most effective we are able to hope for is actually gifted individuals across the desk who can run inflation at 4% to five% however not have it speed up and slowly inflate away this debt.
And in that case, Bitcoin ought to nonetheless go increased.”
At time of writing, the nationwide debt of the US stands at $35.866 trillion.
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