Galaxy Digital CEO Mike Novogratz said Bitcoin’s price can be seen at a critical gathering if the next candidate for the US Federal Reserve Chair to replace Jerome Powell is very disrupted.
“This is the biggest bull catalyst for Bitcoin and other cryptos,” Novograts said in an interview with Kyle Chasse published on YouTube on Friday.
“The Fed was cut off and you put in a giant pigeon,” Novogratz said.
“Can Bitcoin be $200k? Of course… because if that happens, it’s a whole new conversation.”
Novograts stressed that the potential scenario for offensive rate reductions is bullish for crypto, but that comes at a sudden cost. “I want to make that happen? No, why? Because I love America,” he said.
Novograts says that’s not a good scenario for the US
“That would be really shitty for America,” he said.
The incredible stance from the Federal Reserve is expected to weaken the US dollar in general. However, traditional assets such as bonds and term deposits are not advantageous for investors, and are often perceived as bullish catalysts for Bitcoin and other risky assets.
He repeated similar sentiments to Daleep Singh, vice-chair and chief global economist of PGIM bonds, saying that “it’s very likely that FOMC will act very differently and will act” recently after Powell’s term expired in May 2026.
“In a circular sense, I think the risk to the dollar is distorted by the negative aspects,” Singh added.
Novograts says it could cause “aaaa shit moment”
Novograts warned that if Trump followed the pledge to appoint a “dove” it could cause “aaaa shit moment.”
“Gold Sky Rocket… Bitcoin Sky Rocket,” Novograts said.
“The price was price because he was going to choose someone, but no one is sure,” he added.
Novograts said the potential scenario will likely not be reflected in the market until the decision is officially announced. “I don’t think the market will buy that Trump will do something crazy until he does crazy,” Novograts said.
Related: Bitcoin Under Performance Signal “Clear” Q3 altseason: Grayscale
Trump reportedly narrowed down the next candidate for the Federal Reserve Chair to three candidates. White House economic advisor Kevin Hassett, Federal Reserve Governor Christopher Waller and former Fed Governor Kevin Wahsh.
“I can say these are the top three,” Trump told reporters in the Oval Office on September 6th.
The Fed implemented a 25 basis points first-rate reduction in September. This was a move that was largely anticipated in the market, but Waller had called for interest rate cuts in July.
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