Famous cryptocurrency analyst urges users to invest in bitcoin

The head of the blockchain company Galaxy Digital, Mike Novogratz, recommends cryptocurrency enthusiasts to actively buy bitcoins. The reason is the growth of the US national debt. From June 1 to July 6, the US federal government’s debt to creditors increased by $ 1 trillion and reached a record $ 2.47 trillion.

The amount of US national debt has been increasing over the past five years and has grown by 9.8% since the beginning of 2022.

«It's crazy… Buy bitcoins,» Novogratz said in response to the official publication about the debt increase.

The Galaxy Digital CEO, like many other members of the crypto community, believes that bitcoins should be used to save capital in the face of rising inflation. An increase in the US national debt could shake the stability of the country’s financial system and lead to a drop in the dollar. In this regard, Novogratz calls for investing in BTC to minimize risks.

The rationality of Novogratz’s advice is supported by actual data. In the first seven months of 2023, bitcoin rose by 82% and proved to be one of the most effective investment instruments. Cryptocurrency industry experts note that if the coin rate stays above $Z0,000, the market will continue to see a bullish trend and the price of the market flagship will reach new heights.

According to the CoinMarketCap analytical tracker, at the time of writing (July 11), bitcoin is trading at $ 30,516, which is 1.38% higher than yesterday. The market capitalization of the main cryptocurrency amounted to $ 640.3 billion, and traders made daily trading deals worth $ 14.6 billion. BTC’s market share lost 0.1% to 49.9%.