SkyBridge Capital founder Anthony Scaramucci and Galaxy Digital CEO Mike Novogratz stated in the All Things Markets program that Bitcoin could exceed the 70 thousand dollar threshold again by the end of July 2026. Both names cited macroeconomic pressures and clarification on the regulatory front as the main factors for a possible recovery in prices.
The basis of the expectation of 70 thousand dollars
Scaramucci argued that the negative atmosphere in the market was excessive and said that even a limited additional purchase could push Bitcoin up. According to him, fatigue and weak sentiment in the market create a suitable basis for a change of direction.
Scaramucci stated that he thought the 70 thousand dollar level could be seen again by the end of July, that the negativity in the market had become too deep and even limited purchases could push the price above this threshold.
Novogratz shared a similar view, but emphasized that this depends significantly on regulatory clarity. He stated that if the expected openness in the market is achieved, the possibility of an increase will become stronger, otherwise the outlook may weaken. Galaxy Digital is known as a US-based company that offers digital assets and blockchain-focused financial services.
Mini dictionary: Regulatory clarity means that it becomes clearer through laws and institutional decisions which rules companies in the market are subject to. Such clarity in the crypto market can directly impact risk perception, especially among institutional investors.
Inflation and debt debate
Novogratz argued that the US’s growing fiscal deficit and debt burden, which has reached 40 trillion dollars, may force the economic management to lean more on inflation. He said that this chart supports the prominent narrative of limited supply assets such as Bitcoin.
Novogratz stated that the $40 trillion debt cannot be easily carried by economic growth, so inflation may become the tool used to melt the debt burden, and this may increase interest in hard assets.
However, Novogratz also warned that this approach carries serious risks. He stated that if public confidence is damaged, inflation could rise to uncontrollable levels, which could erode not only debts but also wealth. According to him, the current picture points to one of the most delicate balance areas of the macroeconomy.
Washington contacts and declining optimism
Novogratz explained that he had intense contacts in Washington to advance the crypto regulatory process. He stated that he met with eight different senators and representatives in one day and saw a desire to finalize the regulation on both the Democratic and Republican sides. However, he said that there were three issues left to be resolved in the comprehensive bill.
Still, he spoke more cautiously than in previous weeks. He stated that he now evaluates the probability of success as lower, which he considered higher three weeks ago. Scaramucci, on the other hand, was more skeptical of a compromise before the summer break; He stated that political tension may make it difficult for the opposition to support this process.
Saylor’s transactions sparked controversy
In the last part of the program, the duo discussed Strategy President Michael Saylor’s first sale of a limited amount of Bitcoin and a short time later a large purchase of $101 million. Here, Saylor sought to manage the company’s liabilities and move away from traditional dollar debt on the balance sheet, according to Novogratz.
Novogratz said the move may have sent the wrong message to the market, but Saylor’s belief in Bitcoin stood out from the usual fund managers. According to him, Saylor sincerely believes that Bitcoin can reach much higher levels in the long term, considering that governments will have difficulty limiting spending.
