Posted in: Forex

Novogratz Says Biden and Harris Good for Country, Bad for Markets

Mike Novogratz, is a CEO at the galaxy digital besides that he is well-known as the bitcoin cash Proponent. He states that, according to him, financial problems will occur if the U.S. presidential bid in November is going to be taken by the democrats.

14 August 2020 Interview

In the interview that was held on 14 August, Novogratz said that it would be great for the country if Biden and Harris got elected, but it’s also confirmed that it won’t go to appear suitable for the market.

After listening to Novogratz’s statement, Kamala Harris claimed that he is going to deal fair to wall street in case he is going to win the election. At the same time, Novogratz has mentioned the sharp taxes from the democratic presidential race if he wins. On the wall street democrats going to be tougher for the tax plan, is claimed by the Novogratz that here nothing is going to increase the corporate, capital gains taxation, and the income as well.

In between answering the other questions, the market scenario describes the mainstream in the current time as highly comparable to the exuberant bitcoin’s in the year 2017; it all happens due to several measures, one of them is the amount used by the government. Besides that, he said everything becomes a trade like bitcoin in the year 2017.

He also claimed there that the bubbles would go to end when the policy responds. The [the system is that the action on a tax increase puts an end to the forth we are suffering from now.

Strong discussion on bitcoin

Novogratz has also stored the value of bitcoin as with a regular tag that the bitcoin is the only essential asset of the crypto market and its participants. Once again, the CEO is explaining that, according to him, the bitcoin has transitioned over the last year from the starting to an end, like from the point where people start seeing and to the end; that is a possible value of store to the cemented position of the bitcoin.

This is the race looking like downhill, but they are opposing it because now bitcoin has gained full acceptance except some the streams which are not accepting this but will go to join this late.

It’s because bitcoin has gained a limitless following as it’s the digital currency which has full acceptance in the financial sector.

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