Galaxy Digital chief executive Mike Novogratz said a very dovish choice to lead the Federal Reserve could push Bitcoin into a major rally, even as he warned such a shift would carry serious costs for the US.

According to Novogratz, if the next Fed chair after Jerome Powell favors aggressive rate cuts , the dollar could weaken and risk assets would get a big bid. He added that while that outcome would be great for crypto, it would not be good for the country.

Dovish Fed Could Send Bitcoin Higher

Novogratz said during an interview with Kyle Chasse published on YouTube that if the Fed begins cutting when it probably should not, and a strongly dovish chair is installed, investors could rush into assets like gold and Bitcoin.

Based on reports, he suggested a scenario where markets ch

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