Mike Novogratz, the CEO of Galaxy Digital, has highlighted the critical state of the US debt deficit. He emphasized the need for the government to cut its spending noticeably. Novogratz also preached for a higher tax on the rich to solve the problem. He stressed that the issue of sealing up the major cash outflow loopholes is the most significant one. Compliance with these steps should prevent a possible long-term debt crisis.
The financial expert pointed out the staggering growth of the national debt, currently standing at about $34 trillion. This number, as per Mike Novogratz, is growing at a fast pace and will go up to $37 trillion if it is not stopped. Such a financial path would strengthen the argument for investment in Bitcoin or any other assets. The growing burden of debts is likely to stimulate more people and companies to perceive Bitcoin as an attractive asset.
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