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Crypto

Galaxy Digital CEO says U.S. fiscal deficits are positive for bitcoin, keeps bullish view

Galaxy Digital CEO Mike Novogratz said persistent U.S. government fiscal deficits are a key factor behind his continued bullish outlook for bitcoin. He said a structure that fails to control spending ultimately strengthens the investment case for the cryptocurrency. He cited July federal revenue of $334 billion and spending of $766 billion, and pointed to Congressional Budget Office projections that public debt could rise to 120 percent of GDP by 2036.

Crypto

Bitcoin adoption seen accelerating via U.S. advisory, brokerage and retirement accounts

Bitcoin may spread to a broader audience through advisory accounts, brokerage accounts and retirement products rather than crypto exchanges, according to a report cited by CryptoSlate. Grayscale sees traditional finance channels expanding access for millions of retail investors. Surveys show more advisers can buy crypto in client accounts, aided by U.S. SEC approval of spot bitcoin ETPs. Potential changes to 401(k) rules could also affect retirement options, although allocations would depend on trustees.