Mike Novogratz, CEO of digital asset management company Galaxy Digital, commented on the Fed’s expected interest rate increases on X. Stating that the institution does not actually need such an increase, Novogartz said:
“Call me crazy, but I don’t agree that the Fed needs to cut interest rates. They’ll still do it. This will be good for Bitcoin, gold, silver and copper. But when you look at it, it will not be good for the USA. We need a president who will seriously cut spending. “We hear the voice of silence in the capital on this issue.”
Discounts transferred to June
As it is known, the monetary tightening policy, which has been going on for about 2 years in the USA, is expected to end this year. However, where a few months ago there were expectations for interest rate reductions even in March, today it is stated that there will be no reductions even in May. Experts comment that the Fed will start reductions in June at the earliest.
It is expected that interest rate cuts will bring serious increases, especially in stock markets, precious metals and cryptocurrencies, but the fact that Bitcoin, along with the S&P 500, Nasdaq and Dow Jones, broke consecutive records in the USA clearly shows that the markets did not expect these discounts.
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Source: https://uzmancoin.com/mike-novogratz-bitcoin-piyasa-kripto/
