The Galaxy Digital CEO argued that he does not expect the nearly $36 trillion national debt to be paid without devaluing the currency.
Mike Novogratz, the founder of crypto investment and research firm Galaxy Digital, believes there is a “Low probability” that President-Elect Trump will establish a Bitcoin (BTC) strategic reserve during his term.
In an interview with Bloomberg TV, the Galaxy Digital CEO explained that he expects a clash between the different branches of government to obstruct the process. Novogratz also argued that the US dollar does not need another asset to maintain its dominance as the global reserve currency:
“We have the strongest military in the world. We have the dominant economy in the world,” the Galaxy Digital CEO continued — explaining that he expects Bitcoin to hit $500,000 if a strategic reserve is established by the US government.