Galaxy Digital CEO Mike Novogratz warned on CNBC’s Squawk Box that U.S. financial markets are starting to resemble those of emerging economies, citing growing policy uncertainty, rising interest rates and global geopolitical shifts.
Speaking in an exclusive interview, Novogratz also touched on the recent market volatility following President Trump’s surprise tariff announcements, which sent Bitcoin (BTC) soaring from $76,000 to $84,000. “This tariff thing came out of nowhere for a lot of people,” he said, adding, “It was a huge shock to the global economy.”
The simultaneous restructuring of the global security and trade architecture that has been largely in place since World War II has triggered a major shift in how markets respond, Novogratz explained. “We are starting to behave more like an emerging market than a developed market,” he warned, pointing to the unusual combination of higher interest rates and a weaker dollar.
While Bitcoin has shown resilience, Novogratz noted that BTC still struggles to gain adoption during times of heightened uncertainty. “Bitcoin generally performs well in these macro conditions unless there is a strong risk-off sentiment,” he explained. “When there is chaos, new buyers disappear.”
While gold has risen as a haven asset, Bitcoin has not seen the same flight-to-safety behavior. “Bitcoin and gold are the report cards of financial management,” Novogratz said, suggesting that the current moves in gold reflect waning confidence in traditional monetary policy.
Foreign central banks are now the biggest buyers of gold, according to Novogratz, who predicts a BRICS-backed digital currency, possibly pegged to gold, will emerge within the next two years. “That’s a pretty big signal,” he added.
Novogratz said the current U.S. approach to tariffs and taxes was confusing for investors. “We’re destroying 30 years of trade and supply chain planning overnight,” he said. He acknowledged that reducing inequality and deficits were noble goals, but warned against sudden changes.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/billionaire-mike-novogratz-talks-about-the-future-of-bitcoin-and-the-us-economy/