Galaxy Digital CEO Mike Novogratz said he remains bullish on BTC, arguing that persistent U.S. fiscal deficits and rising debt support Bitcoin's long-term appeal. Responding on X to investor and market commentator Charlie Bilello, Novogratz highlighted July federal revenue of $334 billion against spending of $766 billion, leaving a $432 billion monthly deficit that he described as scary. He said the United States needs to reverse its fiscal trajectory and backed Treasury Secretary Scott Bessent's "3-3-3" framework of 3% real economic growth, reducing the deficit to 3% of gross domestic product and increasing U.S. oil production by 3 million barrels per day, while adding that the country is not close to that goal. Novogratz also linked inflation across many sectors over the past decade to the increase in debt and said bond market pressure could eventually force fiscal discipline. He said incumbents from both major U.S. political parties could feel the consequences in the midterms, and added that low energy in the crypto market does not change his view that Bitcoin can benefit as investors look for a hedge against fiat currency devaluation. He cited Congressional Budget Office projections from February that put the fiscal 2026 budget deficit at $1.9 trillion, with debt held by the public reaching 101% of GDP this year and 120% by 2036 if current laws remain broadly unchanged. More recent CBO estimates showed the government had already accumulated a $1.4 trillion deficit in the first nine months of fiscal 2026.