Bitcoin, which surpasses the $1 million mark in 2025, is a scenario that many crypto enthusiasts dream of, but not everyone sees it as good news. Instead of celebrating, some experts warn that it will reveal a deep rift in the US economy.
Galaxy Digital CEO Mike Novogratz said in a recent podcast that such price surges would be a warning sign rather than a victory.
He explained that codes can only reach that level if the country is facing serious economic distress.
“I would rather have a lower Bitcoin price than the opposition in the more stable US,” he said. He emphasized that the currency often collapses suddenly.
Bitcoin is considered a hedge of crisis
When a country’s currency weakens, investors often rely on Bitcoin, calling it “digital gold.” That’s why Novograts believes that the rising BTC prices are linked to volatileness.
His comments reflect a statement from All Streets Crypto analyst Wolf last year that BTC is likely to mean that if it’s too fast, the world is in trouble.
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Still, not all predictions are bleak. Cathie Wood of Ark Invest believes Bitcoin could reach $1.5 million by 2030.
According to reports, Bitmex founder Arthur Hayes hopes that by 2026 Bitcoin will rise between $750,000 and $1 million, with Strategy Executive Director Michael Saylor recently saying “they won’t come back in the winter,” and that if Bitcoin doesn’t go to zero, it could reach $1 million.
US debt concerns
Novograts also expressed dissatisfaction with how the government handles its debt. He said President Donald Trump’s choice of Treasury Secretary Scott Bescent’s choice has not produced many results. He said GDP remains unapproved from debt, and the US deficit is set to rise rather than shrink.
That fiscal outlook added to investors’ uncertainty. Marketwatchers believe that rising debt and deficits could weaken confidence in the dollar and drive demand for Bitcoin.
However, Novograts warned against cheering too loudly, suggesting that the long-term costs of such a shift could outweigh the excitement of short-term price.
Treasury adoption raises concern
Another concern for Novogratz is the increase in companies adopting Bitcoin for the Treasury. He revealed that Galaxy Digital receives about five calls a week from companies that want to place BTC on their balance sheet. To him, this surge feels more like a frenzy than a steady adoption.
For Novogratz, the warning is clear. A million dollars of Bitcoin does not mean victory. That means the US economy is in a fragile and dangerous place.
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