Mike Novogratz: "Any outcome of the US presidential election will reflect well on cryptocurrencies"

Some Democrats, especially Massachusetts Senator Elizabeth Warren (Elizabeth Warren) criticize cryptocurrencies. However, most Democrats support the development of innovation and digital assets, says the businessman.

Which means favorable changes are inevitable in the market, regardless of the outcome of the November election. Party differences should not hinder the development of digital assets, believes the CEO of Galaxy Digital.

"The frustration of cryptocurrency companies caused by regulatory uncertainty in the U.S. will dissipate over time. There are more and more lawmakers who are beginning to realize the economic benefits the country can gain from the development of cryptocurrencies. I am confident that the administration of the new president, regardless of his political affiliation, will pass legislation that will favorably affect cryptocurrencies," Mike Novogratz announced.

In the near future, bitcoin will trade in the range of $55,000 to $73,000, the Galaxy Digital founder believes. Novogratz called bitcoin one of the most important assets for any investment portfolio, given the current economic conditions. The businessman is concerned about the growing US debt and government spending, and in this financial environment, bitcoin should provide protection against inflation.

Recently, Mike Novogratz suggested that bitcoin will reach the $100,000 mark by the end of the year, and this growth could be driven by the growing interest of institutional investors in the first cryptocurrency.