Regulation
Mike Novogratz: “We’re going to get positive cryptocurrency legislation no matter who wins”
Mike NovogratzCEO of Digital Galaxy BRPHF presented optimistic outlook for cryptocurrency regulation on Wednesday in the USA.
What happened“No matter who wins the next election, we’re going to get positive crypto legislation, I’m sure,” Novogratz said. said CNBC in an interview.
The Galaxy CEO stressed the importance of bipartisan support for cryptocurrency, saying, “I fundamentally believe that cryptocurrency has to be bipartisan. It has to be bipartisan. We can’t have one party that loves us and another that doesn’t.”
He noted that contrary to popular belief, most Democrats, with a few exceptions, are “quite supportive of innovation and crypto.”
Novogratz expressed frustration with the current regulatory environment, but highlighted a positive shift in attitudes.
“It’s incredibly frustrating. That said, all that is changing,” he noted.
Addressing the former president [Donald] AssetIn his recent plea for crypto, Novogratz suggested that it was a case of “getting in tune.”
“I’m not a one-issue voter,” he added, stressing that support for crypto should not be the sole determinant in political choices.
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Why is this important: On the theme of BitcoinRegarding the current position of the BTC/USD market, Novogratz reiterated his previous prediction: “I think we would be in a $55, $73 area.” [thousand] until we have new news. It takes some time to digest things.
He attributed Bitcoin’s continued relevance to ongoing government spending practices.
Criticizing both major political parties for their fiscal policies, Novogratz said: “I’ve never seen Donald Trump want to balance the budget. You know, he’s increased government spending as much as Joe Biden. I mean, these are the two worst presidents in terms of increasing debt in the history of our country.
Against this backdrop of continued government spending and persistent populism on both sides of the political spectrum, Novogratz said: “Until that changes, Bitcoin as a fundamental value This makes perfect sense to me.
The future of cryptocurrency legislation and its implications for the market will be key topics at Benzinga’s conference The Future of Digital Assets event on November 19.
Image: Shutterstock
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