Michael Novogratz, founder and CEO of Galaxy Digital, appeared on “Squawk Box” to discuss various topics including market trends, artificial intelligence (AI), and the future of Bitcoin. He discussed the current market momentum driven by AI adoption but warned that it could potentially inflate a bubble. Novogratz also noted the unprecedented fiscal response to the COVID-19 pandemic, including universal basic income and large budget deficits, which have created an economic environment that traditional models struggle to predict. He believes the effects of these fiscal measures may eventually wear off, but the timing is uncertain. Regarding Bitcoin, Novogratz sees it as a hedge against potential fallout from fiscal irresponsibility. He expressed optimism about the ongoing adoption of Bitcoin and the possibility of a Bitcoin ETF. Novogratz criticized the lack of clear regulations for Bitcoin and called for regulators to provide clearer guidelines for the cryptocurrency industry. He also discussed the tension between Bitcoin and central banks, but prefers to view Bitcoin as digital gold rather than a global currency. The article concludes with a disclaimer that the views expressed are for informational purposes only and should not be considered financial advice.

AI Sentiment: Positive