The head of Galaxy Digital gave an optimistic forecast for the growth of bitcoin

The first cryptocurrency will show growth in the coming year, as the asset will be used as a means of accumulation, said Galaxy Digital CEO Mike Novogratz. The crisis caused by the spread of COVID-19, as well as the steps taken by the US Federal Reserve to support the national economy, will positively affect the development of bitcoin.

So, Mike Novogorats recalls that with the advent of the pandemic, the regulator additionally injected more financial resources into the economy than in 2008-2009 as a whole. “Mom told me in childhood that money doesn’t grow on trees, but now I see exactly that,” he said.

The head of Galaxy Digital has high hopes for a change in the Fed chairman and the possible departure of current head Jay Clayton (Donald Trump proposed his candidacy for the appointment of the New York Southern District Attorney). If the appointment does happen, then the crypto sector will have new development opportunities. In particular, according to Novogratz, the likelihood of approval of stock exchange investment funds will increase. “Let’s hope that his heir will be a futurist,” concluded the head of Galaxy Digital.