Mike Novogratz, CEO of Galaxy Digital, one of the important names in the crypto industry, participated in CNBC’s “Crypto Night in America” program.
Recently, he made important statements about the candidacy of Jerome Powell, who was nominated for the second time by the US President Joe Biden.
The billionaire investor said that Powell’s second nomination for Fed Chair could slow the crypto market down.
Novogratz stated that people who invest or want to invest in crypto due to macroeconomic balances have a bearish mood in cryptocurrencies.
Novogratz said he thought Powell didn’t actually want to be nominated again.Powell is being reappointed, but perhaps acting more like a central banker than a man seeking reappointment.” said.
The billionaire investor, who recently drew attention to the rising inflation in the USA, stated that the FED will have to act a little faster in the face of rising inflation.
“If the Fed starts raising rates sooner than we expected in the face of high inflation, higher interest rates can slow the entire market as well as the crypto market.”
Mike Novogratz, who runs crypto investment firm Galaxy Digital, added that despite all the negativity, there is still a lot to be excited about in the world of digital assets.
*Not investment advice.