Galaxy Digital CEO: "If Bitcoin hits $1 million, it's a signal of a U.S. economic crisis"

According to an analysis, if the price of Bitcoin (BTC) reaches $1 million next year, it would not be a positive outcome but rather a sign that the U.S. economy is facing a severe crisis.

On the 18th (local time), according to Cointelegraph, Mike Novogratz, CEO of Galaxy Digital, stated on a podcast, "The only way Bitcoin reaches $1 million next year is if the U.S. economy is in its worst state," and emphasized, "It is much better to have a lower Bitcoin price in a stable United States."

He also commented, "A serious decline in currency value often comes at the sacrifice of social order," pointing out that when a national currency collapses, investors tend to move to alternative safe assets in order to protect their wealth. In this process, he explained that Bitcoin, which is often referred to as 'digital gold', could become such an alternative safe asset.