Mike Novogratz said the US crypto community is surpassing Asia

As Bitcoin (Bitcoin) Then continue to arrange sideways Below 33,000 USD On Thursday, Galaxy Digital CEO Mike Novogratz Provides some geopolitical observations about the industry.

In an interview with CNBC’s Squawk Box, Novogratz stated that the price of Bitcoin is now consolidating between US$30,000 and US$35,000. Suggest In the bearish trend from Asia, the crypto community in the United States is now leading the market.

The long-term Bitcoin bull market pointed out that China’s crackdown on the cryptocurrency market is part of a broader problem in the market, noting:

“What we see is that Asia sells it, and then the US buys it back. As part of the broader cold war we are entering, China has declared war on cryptocurrency, so I think we are still digesting it.”

Novograz It also pointed out that Bitcoin ownership in a diversified portfolio may be relevant, and pointed out that some investors may sell some of their encrypted assets. “If you are a hedge fund and your interest rate positions, stock positions and oil positions are hit hard, then you may also sell some cryptocurrencies,” he said, adding, “It’s just that it will take a while to build more Diversified investor base.”

related: Mike Novogratz said that Chinese miners have left “a huge net positive for cryptocurrency”

After hit All-time high above $64,000 In mid-April, Bitcoin has fallen continuously in recent months. Mainly caused by so-called environmental problems Mining in Bitcoin and Vigorously crack down on crypto investment and mining By the Chinese authorities.Under the influence of global financial regulators, the overall sentiment of the cryptocurrency market has further deteriorated to the level of “extreme fear” Take multiple actions against Binance, The world’s largest cryptocurrency exchange.

But despite the growing concerns of the market, some major players in the United States continue to work hard to further cultivate the country’s industry.On Thursday, the major U.S. mining company Gryphon Digital Mining acquired A large number of crypto mining machines From Bitmain, a Chinese mining giant, had to Stop spot sales Because of China’s crackdown on cryptocurrency mining. In June, Miami Mayor Francis Suarez made public Invite foreign crypto mining companies Consider building a data center in the city if the Chinese miners surrender.