Mike Novogratz Says 'You Want To Be Long Bitcoin' After Warning Of Possible Credit Crunch Ahead

Michael Novogratz, CEO and co-founder of Galaxy Digital, on Wednesday said that the United States is on the brink of entering a recession – and he believes that now is the perfect opportunity to invest in cryptocurrencies.

What Happened: “We are going to have a credit crunch in the U.S. and globally,” Novogratz said in an interview on CNBC’s ‘Squawk Box’. “If there was ever a time to be in bitcoin and crypto, this is why it was created, in that governments print too much money whenever the pain gets too great, and we’re seeing that.”