{"id":53620,"date":"2021-11-26T14:40:51","date_gmt":"2021-11-26T12:40:51","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=53620"},"modified":"2025-09-03T16:06:06","modified_gmt":"2025-09-03T13:06:06","slug":"mike-novogratz-warns-that-powells-renomination-could-pose-a-risk-to-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mike-novogratz-warns-that-powells-renomination-could-pose-a-risk-to-bitcoin\/","title":{"rendered":"Mike Novogratz warns that Powell’s renomination could pose a risk to Bitcoin"},"content":{"rendered":"

After President Joe Biden’s proposal to keep Jerome Powell as chair of the \u0424\u0420\u0421<\/span> on a second term, the number of bears in the cryptocurrency market began to rise. On CNBC, Galaxy Digital founder Mike Novogratz said.<\/p>\n

The top executive doubted that Powell could grasp the economic reality of the United States. In his view, markets are pessimistic about Biden’s plans<\/a> to extend the tenure of the current Fed chief.<\/p>\n

\n

\u00abInflation has intensified [\u2026] we will see whether the Fed will have to move a bit faster. [\u2026] This will weaken all risk assets. [\u2026] It will depress cryptocurrency prices if we have to raise rates much faster than we had anticipated\u00bb<\/em>, \u2014 said the CEO of Galaxy Digital.<\/p>\n<\/blockquote>\n

Novogratz noted the risks of a more aggressive approach by Powell after the renomination. This would reflect a shift away from concerns about a negative assessment of Powell’s performance. Before Biden’s decision, the Fed chief leaned toward a slow exit from monetary stimulus.<\/p>\n

The Galaxy Digital CEO expressed optimism about the long-term prospects of the crypto industry after short-term swings.<\/p>\n

\n

\u00abThe number of firms entering this space is staggering. One of the largest sovereign funds has decided to invest in digital assets on a permanent basis. I\u2019ve had similar conversations with major pension funds in the US\u00bb<\/em>, \u2014 shared the executive.<\/p>\n<\/blockquote>\n

As reported, 26 November the price of Bitcoin fell below $55 000<\/a>. <\/p>\n

In October, Novogratz predicted<\/a> that Bitcoin would reach $500 000 within ten years and that 75% of cryptocurrencies would disappear by then.<\/p>\n

Earlier, Galaxy Digital CEO called Bitcoin “the next Internet”<\/a>, which no investor wants to miss.<\/p>\n

Subscribe to ForkLog on YouTube<\/a>! <\/p>\n","protected":false},"excerpt":{"rendered":"

After President Joe Biden proposed to keep Jerome Powell as chair of the Federal Reserve for a second term, the number of bears in the cryptocurrency market began to rise. Galaxy Digital founder Mike Novogratz said this on CNBC.<\/p>\n","protected":false},"author":1,"featured_media":53621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1249,1303],"class_list":["post-53620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-federal-reserve-system","tag-mike-novogratz"],"aioseo_notices":[],"amp_enabled":true,"views":"34","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=53620"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53620\/revisions"}],"predecessor-version":[{"id":53622,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53620\/revisions\/53622"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/53621"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=53620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=53620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=53620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}