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Galaxy CEO Warns $1 Million Bitcoin Could Mean Trouble for US Economy
Last Updated: August 18, 2025
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Key Takeaways
- Mike Novogratz says a $1 million Bitcoin in 2026 would not be a win but a warning of US economic instability;
- He doubts the US debt progress by arguing that deficits will keep rising despite Treasury leadership changes;
- Rapid corporate Bitcoin adoption may signal a bubble, with Galaxy seeing five new treasury inquiries weekly.
Mike Novogratz, the head of Galaxy Digital, stated that if Bitcoin
Speaking on the Coin Stories podcast with Natalie Brunell, he explained that such a price surge would likely happen only if the country faced serious instability.
He added that he would prefer to see a calmer economy with a lower Bitcoin price than a price jump caused by a financial crisis.
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Novogratz noted that when national currencies weaken, people often turn to other assets to protect their wealth. Bitcoin, often compared to digital gold, tends to benefit in those moments. However, he stressed that the trade-off usually comes with major damage to society and institutions.
He also raised concerns about the US budget situation. According to him, President Donald Trump’s decision to appoint Scott Bessent as Treasury Secretary has not led to better results.
Novogratz argued that the debt-to-GDP ratio is still moving in the wrong direction and predicted that the government deficit will keep growing.
Beyond government policy, Novogratz pointed to the increase in companies adding Bitcoin to their balance sheets. He said Galaxy Digital gets about five calls a week from businesses asking about this decision.
While adoption is rising, he warned that the enthusiasm feels excessive and could create a bubble.
Recently, Willy Woo shared his views on what is holding Bitcoin back from becoming a true global reserve. What did he say? Read the full story.
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