Mike Novogratz is extremely bullish on Bitcoin in America

Galaxy Digital Founder and CEO Mike Novogratz believes that positive new regulations are coming for the crypto industry in the United States. Regardless of the outcome of the November election, Novogratz expects clarity for the industry to finally come.

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Support for the crypto sector

According to Novogratz, we’ve reached a point where crypto is gaining support from both political camps in the United States.

While some Democrats, including Senator Elizabeth Warren, are still negative on Bitcoin, overall there is a majority in favor of clear legislation and regulation.

According to Novogratz, this indicates that new laws will be introduced regardless of the election results. In theory, this is good news for the industry, but Novogratz is not known for his predictive skills.

He is often a bit too optimistic about the price trend of Bitcoin, for example. It is possible that he has more predictive power in the regulatory field and that we will finally get clear legislation and regulations in America soon.

Bitcoin is essential

Furthermore, Novogratz calls Bitcoin essential in an economy that is increasingly concerned. In the long term in particular, people are concerned about inflation in the United States, due to the gigantic national debt that hangs over America.

It seems inevitable that the government will eventually have to borrow a lot of money to continue to finance those debts. If the market does not want to lend that money to the US government, then they will have to knock on the US central bank’s door for the money printers.

Novogratz even calls the US government currently spending money like a “drunk boater.”

Is he right? Then Bitcoin could play an important role in the “battle” against inflation that the world will have to wage in the coming decades.

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