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“BTC Will Rise Much Faster”
US Economic Concerns
In a recent interview on the Unchained YouTube channel, Galaxy Digital CEO Mike Novogratz outlined how he thinks Bitcoin will perform after the US elections. He states that Bitcoin will start a new bull market regardless of who wins the US presidential race.
“BTC Will Rise Much Faster”
However, he predicts that if Democratic candidate Kamala Harris prevails, the Bitcoin bull market will be delayed a bit.
"I think if Trump wins we'll hit $73,000 and go up much faster. If Harris wins we'll probably hit above $50,000 [and] below $60,000, bottom and then go up pretty quickly."
US Economic Concerns
While the crypto billionaire has a promising outlook on BTC’s future, his outlook on the US financial situation has been pessimistic. He noted that record levels of US debt could lead to a devaluation of the dollar, and that a declining dollar could bring inflation risks. Novogratz believes that the only way for the US to pay off its record debt is to devalue the dollar, risking runaway inflation.
“To be really clear on my macro view, I think the chances of the US coming together are really low. I actually think the best we can hope for is really talented people around the table who can get inflation to 4% to 5% but not let it accelerate and slowly inflate this debt. And in that case, Bitcoin should still go higher,” he emphasized.
Specifically, the US national debt is $35.866 trillion. With the US debt reaching $35.866 trillion, Novogratz’s predictions highlight Bitcoin’s long-term growth potential. The outcome of the presidential election will significantly shape market reactions and affect Bitcoin’s value.
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