Trump Administration Has Been 'Amazing' For Crypto Industry, Bitcoin Ready To Go To $130,000, Galaxy CEO Says

by Murtuza J Merchant Benzinga Staff Writer

Zinger Key Points

He said a critical crypto regulatory bill is expected to pass Monday, potentially quieting Washington’s scrutiny of the sector.
Novogratz compared crypto’s long-term potential to gold, noting, “Crypto is a $2 trillion asset; gold is $22 trillion.”
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Galaxy Digital GLXY CEO Mike Novogratz praised the Trump administration's approach to crypto policy, contrasting it sharply with the Biden era, which he described as "misery, misery."

What Happened: Speaking with CNBC on Friday, Novogratz said the current administration has been highly favorable to the cryptocurrency industry.

"The four years under Biden were really un-American when it came to crypto. It was just misery, misery," Novogratz said.

In contrast, he noted that "this administration has been amazing for the space in general," emphasizing that Republican support for crypto has played a key role in shaping the current policy environment.

Novogratz said the company pivoted into infrastructure to meet growing demand from the AI sector, highlighting a recent $14 billion lease deal with CoreWeave CRWV as part of the company's strategy.

Also Read: Donald Trump’s Crypto Ties Could Be A Banana Skin For The Industry: Report

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Why It Matters: He acknowledged concerns about the Trump family's involvement in crypto but stressed the importance of keeping the policy conversation bipartisan.

"If the Trump kids do something illegal, they should get prosecuted. We haven't seen them doing anything illegal yet," he added, urging policymakers not to let their participation derail regulatory progress.

A major crypto regulatory bill is expected to pass soon, Novogratz said, after years of what he described as regulatory hostility.

He believes a combination of clearer laws and institutional support could push Bitcoin BTC/USD toward new highs. "Now it looks like we'll take out 106, 107, 108 and make the next leg to 130, 150," he predicted.

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