#1507 Mike Novogratz | Did Trump Make Bitcoin Crash?

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Mar 17, 2025

Mike Novogratz, Founder and CEO of Galaxy Digital, shares insights from Bitcoin Investor Week. He discusses Bitcoin's evolving narrative and the growing interest from sovereign wealth funds. The influence of political events, particularly Trump’s impact on market sentiment, is explored. Novogratz highlights the resilience of the crypto community and the increasing integration of Bitcoin into traditional finance, including upcoming financial products like ETFs. He emphasizes the future of crypto as a dominant currency in the global economy.

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INSIGHT

Crypto's Narrative and Community

Crypto relies on narrative, not just technology.
Strong communities are key to a coin's success, as seen with Bitcoin's dominance.

ANECDOTE

Trump, Bitcoin, and Market Tops

Trump's presidency initially boosted Bitcoin with pro-crypto stances and rumors of Middle Eastern investment.
However, market exuberance and the launch of Trumpcoin signaled a market top.

INSIGHT

Crypto Correction and Macro Factors

The subsequent correction in crypto is due to political uncertainty and potential government spending cuts.
A stronger dollar could weaken Bitcoin's narrative as a store of value.

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Mike Novogratz is the Founder & CEO of Galaxy Digital. This conversation was recorded at Bitcoin Investor Week in New York. In this conversation we discuss the current bitcoin narrative, sovereign wealth funds interest in bitcoin, what the future of crypto looks like, Trump’s impact on bitcoin, Galaxy, and why Wall Street is embracing bitcoin.

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