![\"Billionaire](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/03\/novogratz-1.jpg\")
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Billionaire Mike Novogratz says he is much more optimistic about the crypto market now than he was a month ago. He explained that bond sell-offs and increased crypto adoption have boosted the prices of cryptocurrencies, particularly bitcoin. \u201cI think you are going to see the Democrats taking a softer stance,\u201d he added.<\/strong>\n<\/p>\n \n Maybe what I got wrong was with all this selling in fixed income that money has got to go somewhere.<\/p>\n<\/blockquote>\n \n Novogratz continued, \u201cWe certainly see increased adoption in crypto,\u201d adding:\n<\/p>\n I mean Janet Yellen pivoted and was much more friendly to crypto than she\u2019s ever been.<\/p>\n<\/blockquote>\n \n \u201cThat\u2019s basically politicians listening to their constituents and getting to the president. There was no magic there,\u201d Novogratz opined.<\/p>\n \u201cI\u2019m getting calls from senator after senator. \u2018Hey can you help educate, can you help me figure this out,’\u201d the Galaxy Digital executive shared, elaborating:\n<\/p>\n People have realized crypto is very popular, and I think you are going to see the Democrats taking a softer stance.<\/p>\n<\/blockquote>\n \nHe proceeded to comment on President Joe Biden\u2019s executive order<\/a> on crypto regulation. \u201cIt was very interesting in that presidential decree, there was no Elizabeth Warren\u2019s or Gary Gensler\u2019s voice in that thing, and they\u2019ve been running crypto policy until then. That\u2019s a positive,\u201d Novogratz noted. Many people in the crypto space share his optimism, seeing Biden\u2019s executive order as positive for the crypto space<\/a>.<\/p>\n However, the billionaire concluded:\n<\/p>\n But mostly we are just seeing adoption: states saying they\u2019ll take taxes, countries participating, sovereign wealth funds getting involved, pension funds getting involved.<\/p>\n<\/blockquote>\n \nMike Novogratz Expects Lawmakers to Take a Softer Stance on Crypto<\/h2>\n
\nGalaxy Digital CEO Mike Novogratz talked about why he is more optimistic about the crypto market now than he was six or seven weeks ago in an interview with CNBC Tuesday. The executive explained:\n<\/p>\n\n
\nThe billionaire predicted earlier this month when BTC<\/a> was struggling to break the $40,000 level that bitcoin\u2019s price would range between $30,000 and $50,000 throughout the year. At the time of writing, bitcoin is trading at $47,327 based on data from Bitcoin.com Markets.<\/p>\n\n
\nLast week, Treasury Secretary Janet Yellen admitted<\/a> that crypto has benefits. \u201cCrypto has obviously grown by leaps and bounds and it\u2019s now playing a significant role, not really so much in transactions, but in investment decisions of lots of Americans,\u201d she said. \u201cThere are benefits from crypto and we recognize that the innovation in the payment system can be a healthy thing.\u201d<\/p>\n\n
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\n\u201cWe\u2019re still early in this adoption cycle, and I\u2019m much more optimistic than I was even six or seven weeks ago,\u201d he described.<\/p>\n