Galaxy Digital CEO Mike Novogratz predicts that if institutions start allocating small amounts of capital into cryptocurrencies, the top 2 cryptocurrencies by market cap will surpass their previous all-time highs. Meanwhile, Novogratz strongly opposes anti-crypto Senator Elizabeth Warren.
When this happens, Bitcoin and Ethereum go up parabolic!
Cryptocurrency billionaire Mike Novogratz speaks out in an interview about the US government’s increasing inability to maintain the budget and avoid deficits. Novogratz says this will be bullish for crypto. He is considering the possibility of higher inflation and lower interest rates. Novogratz states that Bitcoin (BTC) and Ethereum (ETH) will experience a supply shortage if institutions decide to allocate even a small portion of their portfolios to crypto. In this case, he predicts that they will rise parabolically. In this context, Novogratz makes the following assessment:
I’ve been to Washington a lot in the last four months. I wouldn’t be so bullish on Bitcoin if I had any belief that we would make a Simpson Bowles change to balance the budget or have any fiscal prudence. But no, and we are entering an election year. In other words, there will be a Fed cut with a 5% budget deficit and a projected 5% budget deficit next year and the year after. If people start shifting 1% of their portfolio, and institutions start swapping 1%, not 10, but just 1, there won’t be much supply of Bitcoin or Ethereum.
The leading cryptocurrency will go far beyond ATH!
By the way, it should be noted that Mike Novogratz was an early Ethereum investor. Novogratz says Bitcoin is entering an unprecedented supply and demand dynamic. He also predicts that this will easily push BTC well above its previous all-time high. In this regard, Novogratz shares the following predictions for the leading cryptocurrency:
We have customers who are platform customers and buy enough Bitcoin every day to knock out all the miners. So when you think about the supply/demand dynamic, we’ve never had a situation where there’s a global market and such limited supply. That’s why I think Bitcoin can go much higher. I think the first stop next year will be the old highs of $69,000, but I wouldn’t be surprised if it goes beyond that.
Mike Novogratz criticizes Warren’s cryptocurrency approach
Galaxy Digital founder Mike Novogratz has openly criticized Senator Elizabeth Warren’s approach to the cryptocurrency space. Novogratz criticizes Senator Elizabeth Warren, especially her stance against the crypto industry. In this regard, he accuses Warren of being a “disingenuous know-it-all.” The senator is trying to rally support for the Digital Asset Anti-Money Laundering Act. Novogratz’s criticisms also followed these efforts. cryptokoin.comAs you follow from , this bipartisan bill is designed to combat illegal activities such as money laundering and drug trafficking that are potentially facilitated by cryptocurrencies.
Novogratz’s criticism of Senator Warren stems from his belief that Warren is diverting attention from positive intentions. Novogratz emphasizes the importance of replacing populist figures with leaders focused on concrete results. So it points to Warren’s lack of legislative success.
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