On December 5th appearance On CNBC’s “The Exchange,” Galaxy CEO and founder Mike Novogratz offered insight into Bitcoin’s meteoric rise while also making a surprising comment that has reignited curiosity about the mysterious figure behind it all: Satoshi Nakamoto .
A historic milestone for Bitcoin
As Bitcoin reached the symbolic milestone of $100,000—an extraordinary rise from a concept included in a whitepaper just 15 years ago—Novogratz took a moment to pay tribute to the community that has driven adoption of the digital asset. He emphasized the grassroots nature of Bitcoin’s growth, stating, “If Satoshi were alive, because I don’t think he is, I’m sure he would have a big smile on his face.”
This comment, delivered in a matter-of-fact tone, underscores the enduring enigma of BTC’s pseudonymous creator. While Satoshi’s identity has never been confirmed, the suggestion of his death is a topic rarely addressed so directly by high-profile industry figures.
“It’s a great technology and, really, the social construct by which people learn to understand each other. In many ways, this is the best example of a broad coalition of people coming together to do something spectacular. Before talking about price, I want to acknowledge that the moment in which an asset of 2 trillion dollars in 15 years emerges from one man’s idea is quite spectacular,” added the Galaxy CEO.
Novogratz, one of the first investors in Bitcoin, spoke of the immense wealth generated by digital assets. He described the last three months as potentially “the biggest wealth gain for 25- to 45-year-olds in history” due to BTC prices doubling.
The CEO stressed the importance of this generational shift in wealth, stating that it would have a real economic impact: “22, 23% of wealth shocks are spent on consumption… people are going to buy houses and cars… It will be “It is interesting to see if the Federal Reserve contributes an increase in consumption from this enormous gain in wealth.”
Novogratz also acknowledged the unwavering conviction of many cryptocurrency holders, noting that even those who have racked up substantial profits remain reluctant to sell. He considered that Bitcoin is deeply linked to belief systems and not a mere asset allocation: “It is more of a belief system, even than a financial asset for many people.”
While he praised Bitcoin’s coalition-based global growth, he warned that volatility is inevitable. High leverage in the markets, he said, virtually guarantees challenging times ahead: “I can guarantee all of your listeners that there will be at least one, if not two, cruel pullbacks that will test your soul.”
Turning to the political landscape, Novogratz spoke optimistically about the regulatory approach of the incoming US administration. He described the latest period as one of “four years of horrible regulation,” stating that the Trump administration and regulatory appointments could support growth and innovation in the digital asset sector.
He concluded: “We now have a president, whether we like it or not, it is great for the crypto industry. “He said from the beginning that he was going to be a cryptocurrency president, a Bitcoin president, a cabinet full of believers, full of people with few cryptocurrencies.”
At the time of publication, BTC was trading at $97,587.
Featured image created with DALL.E, chart from TradingView.com
