The head of the Galaxy Digital blockchain company, Mike Novogratz, recommends buying bitcoins due to the growth of the US government debt.
From June 1 to July 6, the debt owed to creditors of the US federal government increased by $ 1 trillion and reached $ 32.47 trillion. The amount of the US national debt has been increasing over the past five years and has increased by 9.8% since the beginning of 2022.
Dynamics of changes in the value of the US national debt
“This is crazy… Buy bitcoins,” Novogratz said in response to the publication about the increase in debt.
Mike, like many other members of the crypto community, are confident that bitcoins should be used to save capital in the face of rising inflation.
It is obvious that an increase in the US national debt can shake the stability of the country’s financial system and lead to a fall in the dollar. In this regard, Novogratz calls for investing money in BTC to hedge risks.
The correctness of Mike’s advice is confirmed by the actual data. This year, bitcoin has already risen in price by 82% and turned out to be one of the most effective investment tools. If the exchange rate of the coin stays in the range above $ 30,000, then the bullish trend will continue in the market, and the price of the cryptocurrency will reach new heights.