If the U.S. does create a Bitcoin strategic reserve, Novogratz predicted the price of the world's largest digital token would soar to $500,000.

"If we get a Bitcoin reserve, as someone who owns a lot of Bitcoin, I'm not going to cry," Novogratz said. Trump's presidential victory has sent Bitcoin up more than 30% and pushed the overall value of the digital asset market above its pandemic-era peak.

A former partner at Goldman Sachs and Fortress Investment Group, Novogratz's net worth has risen to about $5.4 billion this week, up $3.8 billion from its late 2022 high.