Michael Novogratz, the billionaire head of crypto investment firm Galaxy Digital, said there is a low likelihood that the US will set up a Bitcoin strategic reserve as proposed by President-elect Donald Trump.
“I still think it’s a low probability,” Novogratz said during an interview Wednesday on Bloomberg Television. “While the Republicans control the Senate, they don’t have close to 60 seats. I think that it would be very smart for the United States to take the Bitcoin they have and maybe add some to it and say we want to show the world that we are going to be a technology first country, a crypto, digital asset first country… I don’t necessarily think that the dollar needs anything to back it up.”
