Novogratz: U.S. Bitcoin Reserve Could Propel Value to $500,000

Billionaire Michael Novogratz, CEO of Galaxy Digital, expressed doubts about the likelihood of the United States implementing President-elect Donald Trump’s proposal to establish a strategic Bitcoin reserve. He attributed this to the slim chances of passing the initiative in Congress, where Republicans lack the necessary majority.

In a recent interview, Novogratz emphasized that increasing the U.S. Bitcoin holdings would be a visionary move, showcasing the country's leadership in embracing technology and digital assets on a global scale.

He further predicted that establishing such a reserve could drive Bitcoin’s value to an unprecedented $500,000, setting a new standard that would compel other nations to join the cryptocurrency market.

Notably, in July, former President Donald Trump stated that, if re-elected, he would ensure the creation of a strategic Bitcoin reserve while safeguarding federal holdings from being sold.

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