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Mike Novogratz Expects Bitcoin to Hit $500K — Says BTC Is a Great Alternative in Economies With Poor Stewardship

Galaxy Digital CEO Mike Novogratz says bitcoin is a great alternative and a lifeline to people in countries with poor stewardship of the economy. He expects the price of the cryptocurrency to hit $500K. “We see an adoption cycle that accelerates … going viral everywhere,” he said.
Bitcoin Is a ‘Great Alternative’ in Some Economies
Galaxy Digital CEO Mike Novogratz talked about the outlook for bitcoin and the U.S. dollar in a couple of interviews this week.
“The biggest thing that’s happened in the last 10 years in lots of ways, maybe longer, is when Europe and the U.S. said: ‘Hey Russia, those reserves that you thought were yours, they’re not really your reserves,’” he told Bloomberg Tuesday.
Elaborating on what he meant, the Galaxy Digital executive detailed:
It means the dollar or treasuries as a risk-free asset isn’t so risk free. It’s not risk free if you’re Russian and maybe if you’re Chinese, it might not be risk free either.
“So I think we are enter

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