Novogratz: The US fiscal deficit makes me bullish on Bitcoin
2026-08-14 00:02:54
According to CoinMeta, Galaxy Digital founder and CEO Mike Novogratz stated that the continuous fiscal deficit of the U.S. government keeps him bullish on Bitcoin. He predicts that Washington's persistent reluctance to control spending will lead to the forced establishment of fiscal discipline. Novogratz expressed his views on social media in response to the relevant remarks of investor and market commentator Charlie Bilello. Bilello recently mentioned that the U.S. government's revenue in July was 334 billion dollars, while expenditures were 766 billion dollars, resulting in a deficit of 432 billion dollars for that month. He pointed out that the United States needs to reverse its fiscal trajectory and believes that the "3-3-3" economic framework emphasized by Treasury Secretary Scott Bessent (3% real economic growth, reducing the deficit to 3% of GDP, and increasing U.S. oil production by 3 million barrels per day) is correct. Novogratz also noted that the Congressional Budget Office predicts that by the fiscal year 2026, the federal budget deficit will reach 1.9 trillion dollars, and public debt will reach 101% of GDP.
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Source:U.Today
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