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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Billionaire Mike Novogratz: Bitcoin will continue to rise due to increasing government spending

    Rocky
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    Billionaire Mike Novogratz: Bitcoin will continue to rise due to increasing government spending Empty Billionaire Mike Novogratz: Bitcoin will continue to rise due to increasing government spending

    Post by Rocky Sun 24 Mar 2024, 6:52 am

    Billionaire Mike Novogratz: Bitcoin will continue to rise due to increasing government spending

    Billionaire Mike Novogratz: Bitcoin will continue to rise due to increasing government spending 16171



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    Economy News - follow up
    Billionaire Mike Novogratz expects Bitcoin to continue to rise due to problems with spending and fiscal discipline on the part of the US government.
    In an interview at the Bitcoin Investor Day conference organized by Reflexivity Research in New York, Galaxy Digital's CEO said irresponsible leadership and reckless spending could be a long-term boon for the world's largest cryptocurrency.
    Novogratz said. “It's relatively simple. Our government can't stop spending money, and that's gone from a problem in the early 2000s to a crisis with Donald Trump and Joe Biden. They've been labeled as the two presidents who destroyed our financial stability.”
    Commentators have warned that high government spending poses a threat because it increases the already rapid pace of borrowing and could lead to higher inflation. Warnings about excessive government borrowing have increased, with the national debt exceeding $34 trillion this year.
    Bank of America noted earlier this month that investing in Bitcoin is on the rise as a "debt reduction" trade as the United States adds $1 trillion to the national debt every 100 days.
    Novogratz, who said he first became interested in bitcoin when it was priced below $100 per coin more than a decade ago, explained that President Trump ramped up spending before the COVID-19 pandemic.
    That escalated once the pandemic started, and then increased even more when President Biden took office and pushed through a number of new spending packages, the Galaxy Digital president said. He continued, saying that the structural deficit has now become normal, with the government spending in excess of 25% of the gross domestic product.
    “Until you see a government, whether Democratic or Republican, that says ‘enough is enough,’ bitcoin will continue to rise,” Novogratz said.
    On Friday, Bitcoin reached $63,000. They are up 43% year to date, rising on immediate demand for ETFs and anticipation of the upcoming halving event expected in April.



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    Added 03/23/2024 - 6:17 PM
    https://economy-news.net/content.php?id=41762

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