Mike Novogratz, the founder of crypto investment and research firm Galaxy Digital, believes there is a "Low probability" that President-Elect Trump will establish a Bitcoin strategic reserve during his term. He expects a clash between the different branches of government to obstruct the process. Novogratz also argued that the US dollar does not need another asset to maintain its dominance as the global reserve currency:
However, Novogratz clarified his statements by asserting that if the Bitcoin Strategic Reserve were to be established in the United States, it would trigger a BTC arms race between sovereign powers. The CEO stated: "I think Bitcoin heads to $500,000 — it's a whole different Paradigm because it forces every other country [to buy it], and countries are already buying it."
