Mike Novogratz Bullish on Crypto Regulations and Bitcoin’s Future
Mike Novogratz, CEO of Galaxy Digital, is optimistic about future US cryptocurrency regulations regardless of the 2024 presidential election outcome.
In a CNBC interview, he stressed bipartisan support as crucial for crypto’s growth, noting a consensus among US lawmakers favoring innovation in the industry.
Novogratz acknowledged some opposition, including from Senator Elizabeth Warren, but highlighted a shift towards a more supportive regulatory environment.
He anticipates positive crypto legislation regardless of election results, emphasizing ongoing bipartisan momentum.
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Regarding Bitcoin, Novogratz commented on its recent performance, noting a surge to over $73,000 post-ETF approval.
He expects Bitcoin to trade between $55,000 and $73,000 in the near term, emphasizing its resilience and potential amid fiscal challenges.
As of now, Bitcoin trades around $62,000, reflecting a recent 9% decline but showing strong gains of 44% year-to-date and 102% over the past year.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
