July 16, 2024

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Mike Novogratz Is Very Bullish About Bitcoin In America – BLOX

Mike Novogratz Is Very Bullish About Bitcoin In America – BLOX

Mike Novogratz, founder and CEO of Galaxy Digital believes New regulations are coming in favor of the crypto industry in the US. Regardless of the outcome of the November elections, Novograds expects clarity to finally come to the industry.

Support for the crypto sector

According to Novogratz, we have reached a point where crypto is gaining support from both political camps in the US.

While some Democrats, including Senator Elizabeth Warren, are still negative about bitcoin, overall the majority favors clearer laws and regulations.

According to Novograds, this means that new laws will be introduced regardless of the outcome of the elections. That’s good news for the industry in theory, but Novogratz isn’t known for its predictive prowess.

For example, he is mostly optimistic about Bitcoin’s price improvement. He will have more predictive power in the field of regulation and we will soon have clearer laws and regulations in the US.

Bitcoin is essential

Also, Novogratz calls Bitcoin essential in an economy that cares a lot about it. People worry about inflation in the US, especially in the long term, because of the huge national debt hanging over the US.

It seems inevitable that the government will have to borrow a lot of money again to continue servicing those debts. If the market doesn’t want to lend that money to the U.S. government, they will have to turn to the U.S. Federal Reserve to print money.

Novograds even calls the US government currently spending money “like a drunken captain.”

Is he right? Bitcoin can play an important role in the “fight” against inflation that the world will have to wage in the coming decades.

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