Cryptocurrency bigwig Mike Novogratz, CEO of Galaxy Digital, has shared his predictions for Bitcoin’s performance after the US presidential election.
Bitcoin’s Bull Run
Novogratz believes that Bitcoin will enter a new bull market regardless of who wins the presidency. However, he sees a slight delay if Democratic candidate Kamala Harris takes the lead.
“If Trump wins, we’ll see Bitcoin break $73,000 and soar even higher. But if Harris wins, we might see a dip to the high $50,000s or low $60,000s before it starts climbing again,” Novogratz said.
A Bleak Outlook on the US Economy
While Novogratz is bullish on Bitcoin, he’s pessimistic about the US economy. He thinks the only way for the US to tackle its record-high debt is to devalue the dollar, which could lead to runaway inflation.
“I don’t think the US is going to get its act together anytime soon. The best we can hope for is a team that can manage inflation at 4% to 5% without it spiraling out of control. Even then, Bitcoin should still rise in value,” he added.
The US Debt Crisis
The national debt currently stands at a staggering $35.866 trillion.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Always do your own research before making any investment decisions.
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