Galaxy Digital CEO Michael Novogratz shared in an interview with CNBC that almost all member of President-elect Donald Trump’s cabinet are Bitcoin (BTC) holders and vocal supporters of digital assets. This pro-crypto stance is fueling optimism across the market, with Novogratz noting their emphasis on innovation and blockchain development could lead to a bullish future for the cryptocurrency sector.
Galaxy CEO Michael Novogratz said in an interview with CNBC that almost all members of the cabinet of US President-elect Trump hold Bitcoin and are staunch supporters of digital assets. These members support innovation, digital assets and Bitcoin itself, and he would not be…
— Wu Blockchain (@WuBlockchain) November 22, 2024
Novogratz expressed confidence that BTC, currently trading at $97,661.92 as per Coingecko, with a surge of 0.5%, could see a significant price rally in the near term. “I wouldn’t be surprised if BTC surges further,” he stated, highlighting the cabinet’s positive outlook on digital currencies.
Market analysts are now speculating whether this momentum could push BTC toward the elusive $100,000 mark. With the Trump administration expected to develop a crypto friendly regulatory environment, sentiment among traders remain bullish.
A Political Boost for Bitcoin?
Bitcoin’s price has already seen an 8% rise this week, driven by the anticipation of pro-crypto policies from the incoming administration. The community argue that support at the highest levels of government could accelerate institutional adoption, legitimizing BTC as a mainstream asset.
“Having staunch advocates of BTC and digital innovations in such powerful positions is a game-changer,” said one analyst. “This could be the catalyst needed to break BTC into six figures.”
BTC to $100,000 by Tomorrow?
While Novogratz stopped short of making specific predictions, the crypto community is buzzing with speculations about BTC price trajectory. Some believe that, when people will get to know that cabinet members are in full support of BTC, the investor interest would increase and BTC could breach $100,000 as soon as tomorrow.
Also Read: MicroStrategy to Buy Bitcoin with $3 Billion Notes Offering
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