The CEO of the world-known company Galaxy Digital Mike Novogratz expressed his hope that the administration of the next President of the USA Joe Biden will be notably more crypto-friendly than the previous one.
The administration of the still incumbent US president, Donald Trump, on the other hand, in every possible way tried to hinder the development of the crypto industry and the more active use of Bitcoin, Mike Novogratz noted on the air of the CNBC network.
According to him, the crypto sphere will expand with an increasing pace if the US government puts it in a hospitable legal framework. Some potential investors are currently frustrated by the lack of laws, so they abstain from investing in BTC and other digital currencies.
The next administration could solve this problem and give a boost to the development of the growing industry. In a little more than 20 days, a change of power will take place in the US, and Novogratz hopes that regulators will change their attitude and become more friendly towards digital currencies.
President Donald Trump has spoken out negatively regarding Bitcoin last year. His Twitter post back then initiated the famous July Bitcoin rally.
Some experts even warned that the Trump administration could issue a ban on Bitcoin transactions and start discouraging cryptocurrency holders.
