Galaxy

Bitcoin

Joe Biden

President Donald Trump

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/how-will-bitcoin-perform-in-2024" data-wpel-link="internal" rel="noopener noreferrer nofollow">How Will Bitcoin Perform in 2024?</a><br></p>
<p style="text-align: justify">In a recent interview, Galaxy Digital CEO Mike Novogratz shared his critical views on the American economy and predicted a potential surge in <a href="https://en.bitcoinhaber.net/spot-bitcoin-etf-approval-in-the-us-and-its-impact-on-asias-crypto-landscape" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value. Novogratz, who recently launched a $113 million fund, expressed concern over the nation’s escalating debt and unsustainable spending.</p>
<h2 id="concerns-over-u-s-economic-health">Concerns Over U.S Economic Health?</h2>
<p style="text-align: justify">During the interview with Bankless, Novogratz highlighted that government spending under both former President Donald Trump and current President Joe Biden has reached unprecedented levels. He indicated that the country is on the brink of bankruptcy due to this unchecked spending spree.</p>
<p style="text-align: justify">Novogratz pointed out that the federal budget deficit now stands at 6% of GDP, largely due to overspending and insufficient tax collection. He stressed that reducing entitlements like Medicare, Medicaid, and Social Security is the only feasible solution, yet no politician is willing to take this step due to its unpopularity.</p>
<h2 id="what-lies-ahead-for-bitcoin">What Lies Ahead for Bitcoin?</h2>
<p style="text-align: justify">Shifting his focus to Bitcoin, Novogratz argued that the ongoing financial instability could drive investors towards BTC as a hedge against the dollar’s devaluation. He emphasized that the growing national debt and excessive spending would likely increase Bitcoin’s value.</p>
<p style="text-align: justify">Despite his optimism for Bitcoin, Novogratz lamented the broader economic implications, stating that the government’s failure to address fiscal issues could lead to long-term consequences. He criticized both the Democratic and Republican parties for their lack of political will to tackle these economic challenges.</p>
<h2 id="actionable-takeaways">Actionable Takeaways</h2>
<p style="text-align: justify">Here are some concrete inferences based on Novogratz’s statements:</p>
<ul>
 <li>Investors should consider Bitcoin as a potential hedge against economic instability and dollar devaluation.</li>
 <li>Monitor government policies and spending patterns, as they can significantly impact <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">financial markets</a> and investment strategies.</li>
 <li>Be aware of the potential long-term economic consequences of unchecked national debt and fiscal mismanagement.</li>
</ul>
<p style="text-align: justify">Currently, Bitcoin has slightly retreated from recent highs, trading at $67,250 after a minor 1.10% decline in the past 24 hours. Meanwhile, the U.S. national debt has surged to a record $35 trillion, underscoring the economic challenges highlighted by Novogratz.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/how-will-bitcoin-perform-in-2024" data-wpel-link="internal" rel="noopener noreferrer nofollow">How Will Bitcoin Perform in 2024?</a></h5>

How Will Bitcoin Perform in 2024?

Table of Contents

BH NEWS

Άλλα άρθρα που δημοσιεύτηκαν στις 30 Ιουλ 2024

UK Crypto Investors Worried About Regulatory Crackdown After Coinbase $4.5M Fine

Just One Day: WienerAI Prepares for Launch on Decentralized Exchanges

California DMV digitizes 42m car titles on blockchain

INTMAX and Plat’Home Collaborate to Commercialize General-purpose Token Protocol for RWA

HashKey Global Expands Crypto Derivatives with New Perpetual Futures Contracts

SEC Charges BitClout founder Nader Al-Naji with fraud

Join our free newsletter for daily crypto updates!