Fed chairman Jerome Powell could slow down crypto in his second term, warns billionaire Mike Novogratz
Fed chairman Jerome Powell could slow down crypto in his second term, warns billionaire Mike Novogratz
The billion -dollar investor Mike Novogratz has warned that the chairman of the Federal Reserve, Jerome Powell, could slow the Kryptomarkt in his second term. Comment on his re nomination, said Novogratz, Powell could "behave more like a central banker than a guy who wants to be heard".
how Jerome Powell's second term as a Fed chairman could have an impact on crypto
The billion -dollar investor Mike Novogratz, CEO of Galaxy Digital, spoke on CNBC last week about the effects that Jerome Powell was appointed chairman of the Federal Reserve for another term of office on the cryptomarkt.
President Joe Biden nominated Powell last week for a second term as Fed chairman. Powell has supervised the greatest monetary policy incentive in the history of the United States to help the economy coping with the Covid 19 pandemic and the subsequent crisis.
"Macro history has changed a little," said Novogratz, adding that the recovery of Powell could enable him to "act more like a central banker than a guy who wants to be experienced".
he emphasized: "Inflation is shown in the USA ... in a rather bad way," said Novogratz. "So that we can see, the Fed has to act a little faster?" The billion -dollar fund manager continued:
That would slow down all assets. It would slow down the Nasdaq. It would slow down crypto if we had to increase interest rates much faster than we thought.
Mike Bailey, research director at FBB Capital Partners, also commented on the effects that Powell's second term on the crypto industry could have. He was quoted by Bloomberg last week with the words:
For die-hard crypto bulls, another powell term can be a certain confirmation of confirmation, since these investors often consider crypto to be secured for a loose Fed policy.
Douglas Boneparth, President of the financial advisory company Bone Fide Wealth, said that overall there is uncertainty about how the markets will react without additional support from the Fed.
In the meantime, Novogratz remains optimistic about the prospects of the crypto industry. He shared:The number of institutions that sees Galaxy in this room is breathtaking.
"I talked to one of the world's largest state funds today and they made the decision to invest money in cryptocurrencies," he said. "I had the same conversations with big pension funds in the USA."
The CEO of Microstrategy, Michael Saylor, said Bitcoin that Bitcoin will grow 100 times a time to $ 100 trillion asset class . A survey by Nickel Digital Asset Management shows that 82 % of institutional investors and asset managers are planning, increase their cryptocurrency exposure by 2023. In May, investment bank Goldman Sachs said in May that the fear of missing something (fomo) is drive institutional investors to Bitcoin.
Do you agree to Mike Novogratz? Let us know in the comment area below.
Bedy verification : Shutterstock, Pixabay, Wiki Commons
Kommentare (0)