Mike Novogratz, CEO of Galaxy Digital, has stated that there is a low probability that President-Elect Trump will create a Bitcoin strategic reserve during his term. In an interview with Bloomberg TV, Novogratz attributed this to expected clashes between government branches that would hinder the initiative. He argued that the US dollar does not need additional assets to uphold its status as the world's dominant reserve currency, citing the strength of the U.S. military and economy as sufficient support. Novogratz believes that if a Bitcoin reserve were to be established, it could potentially push Bitcoin's value to $500,000, as it would trigger an international competition for sovereign Bitcoin holdings. He referenced countries like El Salvador and Bhutan, which have been accumulating Bitcoin, highlighting the potential for a global 'HODL' race for cryptocurrencies.

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