Mike Novogratz: Regardless of who wins the election, cryptocurrency will benefit from favorable regulation

Galaxy Digital CEO Mike Novogratz predicts that regardless of who wins the 2024 presidential election, cryptocurrency in the United States will receive favorable regulation. Novogratz stated that cryptocurrency should be a matter of common concern for both parties. We cannot allow one party to support it and another to oppose it. Despite opposition from some lawmakers, particularly Senator Elizabeth Warren, most American politicians tend to support innovation in the crypto industry. He pointed out that although regulatory transparency is lacking, it is clearly shifting towards a more favorable position with most Democrats supporting innovation and cryptocurrencies apart from a few exceptions. Regardless of who wins the next election, proactive cryptocurrency legislation is inevitable. In addition, Novogratz said that before more market-impacting news emerges, Bitcoin's trading price will range between $55,000 and $73,000 USD. He added growth "takes time" and emphasized Bitcoin's impressive rise to record highs this year.