Mike Novogratz: Cryptocurrency to Receive Positive Regulation Regardless of Election Outcome

The founder and CEO of Galaxy Digital, Mike Novogratz, stressed the importance of bipartisan support for the cryptocurrency industry, stating that he is not a single issue voter and believes that crypto should be embraced by both political parties. He expressed frustration with the lack of regulatory clarity and the adverse effects of government crackdowns on the industry, but optimistically stated that the situation is evolving.

Novogratz highlighted that, apart from a few individuals such as Elizabeth Warren, most Democrats are supportive of innovation and cryptocurrency. He predicted positive crypto legislation regardless of the outcome of future elections.

He emphasized the need for time for the industry to adapt and noted the significant rise in Bitcoin’s value this year. In light of the increasing US debt, Novogratz advocated for BTC as a sensible core portfolio holding.

He pointed out the current trading price of Bitcoin and its fluctuations over the past month and year.

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