According to a PANews report on August 17th, according to Cointelegraph, Galaxy Digital CEO Mike Novogratz stated on the Coin Stories podcast that Bitcoin's price exceeding $1 million next year would not be a victory, but rather a sign that the US economy is in serious trouble. Novogratz stated that he prioritizes stability over a surge in Bitcoin prices. "I would rather have a more stable America with a lower Bitcoin price than the opposite," he explained, explaining that severe currency devaluation often comes at the expense of civil society.