Michael Novogratz, former head of Fortress Investment Group and founder of cryptocurrency bank Galaxy Digital, said on Tuesday that there's a "global money-printing orgy going on" and people should buy assets like gold and bitcoin to protect against possible currency devaluation. Speaking on CNBC's Squawk Box, Novogratz said that as leaders like Nancy Pelosi talk about another stimulus, "money is growing on trees right now." "At one point that comes home to roost," he said, adding that he did buy some stocks, like Starbucks. Visit Business Insider's homepage for more stories.