Billionaire Mike Novogratz, founder and CEO of Galaxy Digital, doesn't want to see Bitcoin (BTC) suddenly skyrocket to $1 million. In a recent interview with The Prof G Show, he stated that he does not wish to see the cryptocurrency suddenly surge above its current price by over 3000%. According to Novogratz, such a huge price increase would probably only occur if the economy in the US was under attack, and civil society was on the brink of collapse.

Novogratz cited previous public statements made by Balaji Srinivasan, a former Coinbase executive, who had predicted that Bitcoin would reach the proverbial $1 million mark by June 2021. Novogratz mentioned that such prognostications can infuriate the people in the US Treasury Department and thus unleash the wrath of regulators on the entire cryptocurrency industry.

Novogratz believes that the digital economy will only continue to strengthen, incurring the growth of Bitcoin and the entire crypto space. But he does not anticipate a sharp increase in the near future. Instead, he is happy to wait for a gradual increase owing to the strong fundamentals underlying the industry.

Aside from the cryptocurrency, Novogratz has also shown interest in blockchain technology. He believes that this revolutionary technology will not only help people in the crypto space but also outside of it. He sees potential applications in areas such as healthcare, finance, and identity management.

Novogratz concluded his interview by noting the importance of dispelling some negative sentiment attached to cryptocurrency, for instance, its use for unregulated dark-web transactions. According to him, the more awareness that is raised about the legitimate use cases for cryptocurrency, the better the industry will fare in the future.



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