Future elections in US might become serious try for the market.
Galaxy Digital CEO and known Bitcoin (BTC) proponent, Mike Novogratz, mentioned that market might encounter a lot of difficulties in case if Democrats win U.S. presidential elections.
In his interview to Bloomberg Novogratz mentioned that Biden and Harris will be great for the country but bad for market
Continuing his speech on Biden and Harris, Novogratz spoke about taxes growth.
Later he described main market tendencies and compared them to BTC growth situation in 2017, explaining such situations with governmental actions.
Novogratz also mentioned that BTC has turned from positive store of value to the main asset, where the money is to be invested at.
“I like Bitcoin better than gold solely because Bitcoin has been hard to buy. Its only got a $220 billion market cap, where gold is over $10 trillion and so Bitcoin has a long way to go to catch gold in just adoption. That said, I still think gold goes higher.”
BTC has gained popularity and attracted financial interest in 2020 after hedge fund giant Paul Tudor Jones purchased BTC to their financial portfolio.
Cointelegraph reporters tried to get further comments of Galaxy Digital director but got no reply for the moment.