Galaxy Digital CEO Mike Novogratz predicts a surge in assets such as Bitcoin (CRYPTO: BTC), gold, and silver as the Federal Reserve reorients its monetary policy.
What Happened: Novogratz stated that a transition from a hawkish to a dovish stance by the central bank would unleash “animal spirits” on financial markets. He also mentioned that the US dollar has already begun to weaken in anticipation of a Fed pivot, Business Insider reported.
Despite his bullish views on the Euro, Australian Dollar, and Brazilian Real, the billionaire investor is shorting the Chinese Yuan due to structural issues in the economy. He holds a short position on the dollar, predicting a slowdown in the U.S. economy, easing inflation, and a potential reduction in Fed rates.
Novogratz remains positive about gold, suggesting that ...