Mike Novogratz, founder and CEO of Galaxy Digital, has reiterated his confidence in Bitcoin, citing the ongoing fiscal deficit in the United States as a key driver for his bullish stance on the cryptocurrency. Novogratz addressed the issue on X, responding to comments from Charlie Bilello, an investor and market commentator who highlighted concerns about the scale of America’s fiscal shortfall. Bilello noted that, in July, the federal government collected $334 billion but spent $766 billion, resulting in a $432 billion deficit for the month.