Bitcoin, who crossed a million dollars in 2025, is a scenario dreamed by many encryption enthusiasts, but not everyone thinks it as good news. Some experts warn that instead of congratulations, they will show deep cracks in the US economy.
Galaxy Digital CEO Mike Novogratz said in a recent podcast that such prices will be a warning signal, not a victory.
He explained that encryption could reach the level if the state faced serious economic pain.
“I’m rather stable in the United States than the opposite,” he said. He stressed that sudden collapse is often a high social cost.
Bitcoin is considered a crisis hedge
When the national currency is weakened, investors often return to Bitcoin and call it “digital gold.” For this reason, Novogratz believes that the rapid BTC price is related to instability.
His opinion said that last year, if the BTC moves too quickly, it means the world is in trouble.
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Nevertheless, not all predictions are depressed. Ark Invest’s Cathie Wood believes Bitcoin would have reached $ 1.5 million by 2030. Even her low estimation is associated with hundreds of thousands of land increasing institutional demand and limited supply of encryption.
According to the report, Arthur Hayes, the founder of Bitmex, expects Bitcoin to rise from $ 750,000 to $ 1 million by 2026, and Michael Saylor’s recent “winter does not come back.”
Concerns about US debt
Novogratz also expressed frustration of how the government handled debt. He said Donald Trump’s financial minister Scott Bessent did not get much results. According to him, the debt of GDP still does not collapse and the US deficit is expected to rise without decreasing.
The fiscal outlook has been added to investor anxiety. Market watchers believe that if debt and defects increase, the trust in the dollar can weaken, causing demand for Bitcoin.
But Novogratz warned of cheering too loudly and suggested that the long -term cost of such changes could surpass short -term price excitement.
Adoption of the Treasury is anxious
Another concern for Novogratz is that the number of companies that adopt Bitcoin to the Treasury is increasing. He said Galaxy Digital is receiving about five calls a week from companies that want to put BTC in the loan table. For him, this is more like a craze than a steady adoption.
For Novogratz, warnings are clear. A million dollars of bitcoin does not mean victory. It means that the US economy is in a weak and dangerous place.
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