Galaxy Digital CEO Mike Novogratz warned on CNBC's Squawk Box that U.S. financial markets are starting to resemble emerging economies, citing rising policy uncertainty, rising interest rates and global geopolitical shifts.
Speaking in an exclusive interview, Novogratz also touched on the recent volatility in the markets following President Trump's surprise tariff announcements, when **Bitcoin jumped from $76,000 to $84,000 (BTC). "This tariff incident came out of nowhere for a lot of people," he said, adding: "It was a big shock to the global economy."
He explained that the simultaneous restructuring of the global security and trade architecture, which has been largely in place since World War II, has triggered a major shift in the way markets respond. "We're starting to behave more like an emerging market than a developed market," Novogratz warned, pointing to the unusual combination of higher interest rates and a weaker dollar.
While Bitcoin has shown resilience, Novogratz noted that BTC is still struggling to be adopted during periods of heightened uncertainty. "Bitcoin generally performs well in these macro conditions, unless there is a strong risk-off sentiment," he explained, adding: "When there's chaos, new buyers disappear."
While gold has risen as a haven asset, Bitcoin has not seen the same safe escape behavior. "Bitcoin and gold are the report cards of financial governance," Novogratz said, suggesting that the current movements in gold reflect a decline in confidence in traditional monetary policy.
According to Novogratz, foreign central banks are now the largest buyers of gold, and he predicts the emergence of a BRICS-backed, possibly gold-linked digital currency in the next two years. "That's a pretty big signal," he added.
Novogratz said the U.S.'s current approach to tariffs and taxes is confusing investors. "We're tearing down 30 years of trade and supply chain planning overnight," he said. While acknowledging that reducing inequality and deficits are noble goals, he cautioned against abrupt changes.
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Billionaire Mike Novogratz Speaks Out on the Future of Bitcoin and the U.S. Economy!
Galaxy Digital CEO Mike Novogratz warned on CNBC's Squawk Box that U.S. financial markets are starting to resemble emerging economies, citing rising policy uncertainty, rising interest rates and global geopolitical shifts.
Speaking in an exclusive interview, Novogratz also touched on the recent volatility in the markets following President Trump's surprise tariff announcements, when **Bitcoin jumped from $76,000 to $84,000 (BTC). "This tariff incident came out of nowhere for a lot of people," he said, adding: "It was a big shock to the global economy."
He explained that the simultaneous restructuring of the global security and trade architecture, which has been largely in place since World War II, has triggered a major shift in the way markets respond. "We're starting to behave more like an emerging market than a developed market," Novogratz warned, pointing to the unusual combination of higher interest rates and a weaker dollar.
While Bitcoin has shown resilience, Novogratz noted that BTC is still struggling to be adopted during periods of heightened uncertainty. "Bitcoin generally performs well in these macro conditions, unless there is a strong risk-off sentiment," he explained, adding: "When there's chaos, new buyers disappear."
While gold has risen as a haven asset, Bitcoin has not seen the same safe escape behavior. "Bitcoin and gold are the report cards of financial governance," Novogratz said, suggesting that the current movements in gold reflect a decline in confidence in traditional monetary policy.
According to Novogratz, foreign central banks are now the largest buyers of gold, and he predicts the emergence of a BRICS-backed, possibly gold-linked digital currency in the next two years. "That's a pretty big signal," he added.
Novogratz said the U.S.'s current approach to tariffs and taxes is confusing investors. "We're tearing down 30 years of trade and supply chain planning overnight," he said. While acknowledging that reducing inequality and deficits are noble goals, he cautioned against abrupt changes.