Mike Novogratz: Bitcoin’s Escape Velocity, Bond Market Crisis, Crypto x AI, & the Genius Act

Bankless

News, Tech News, Technology

4.7 • 1.2K Ratings

🗓️ 2 June 2025

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mike Novogratz returns to Bankless to unpack Bitcoin’s surge to new all-time highs and what it means in a world grappling with fiscal uncertainty. We dive into the unfolding bond market crisis, why the Genius Act marks a new chapter for stablecoins, the tokenization of traditional finance, and how Galaxy is uniquely positioned at the crossroads of crypto and AI. This is a front-row seat to the changing macro tides and crypto’s place in the new financial order. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐SELF | PROVE YOUR SELF https://bankless.cc/Self 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance ------ TIMESTAMPS 0:00 Intro 0:18 Bitcoin Hitting All-Time High 1:57 Trump’s Tariffs' Effect on Bitcoin 5:56 Liz Truss Moment 2.0? 7:33 US Liz Truss’s Effect 8:49 Bitcoin, Gold, and the US Dollar 12:11 BTC as a New World Asset 15:29 Treasuries in Decline 18:05 Galaxy Going Public 21:26 The Genius Act 24:32 Anti-Crypto Army Gone? 27:03 US Consumer Crypto Market 31:22 Tokenizing Galaxy Assets on ETH 34:08 A Roadmap From SEC in the Future? 36:53 Year of Crypto IPOs? 38:30 TradFi Fades, Crypto Rises 39:46 The Terra Luna Case 44:05 Future of Galaxy and Crypto 50:48 Building and Scaling Data Centers 55:18 Closing & Disclaimers ------ RESOURCES Mike Novogratz https://x.com/novogratz Galaxy Digital https://www.galaxy.com/ Tokenization & RWAs (Galaxy Report) https://www.galaxy.com/research/insights/tokenization-and-the-future-of-finance/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Transcript

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0:00.0	We still got a bull run coming, right?
0:01.5	It's not over yet for crypto.
0:02.9	Bull run is just starting today.
0:04.3	You got price targets?
0:05.3	I mean, listen, we need this finish this week over 10750, you know, 1-7-500.
0:09.8	If Sunday night we're at 108, 108, 109, you're going to be at 130 before you can bat an eye.
0:17.6	Mike Novigratz, Bitcoin just hit an all-time high at the time of recording.
0:22.0	We're at 109,900 as the all-time high price of Bitcoin.
0:27.0	Price might vary by the time listeners get this episode.
0:30.1	But can we just like celebrate that for a minute?
0:32.4	All-time highs don't happen very often.
0:34.5	How are you feeling about that?
0:36.0	Listen, I think from the time Larry Fink bought
0:38.5	Bitcoin, up until then, we were all pushing this snowball up the hill. Yeah. And then it got to
0:44.8	the top of the hill and it stayed there for a while. And now it started to roll downhill. And
0:49.1	that snowball is adoption. It's the community orange pilling and pulling more people into the community. And Larry was
0:56.8	like the big cahuna to orange pill, but now you've got sovereign wealth funds. You've got retail
1:02.4	equity investors coming through all these micro strategy and micro strategy lookalike products.
1:08.2	You've got normal retail. You've got normal institutions. It just feels like
1:12.2	we are at escape velocity. Listen, we're going to have to close above and stay above 106, 107 for
1:18.4	three, four days, but that'll open up 130, 130, 150. And then you're in price discovery. And so,
1:25.6	why is it happening? A, adoption. And B, you know, you look at what's going
	...

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