Biden’s Crypto War Slammed: Bitcoin’s $150K Destiny Awaits?

Galaxy’s CEO blasts Biden’s anti-crypto stance, predicts Bitcoin at $150K! Will Trump’s policies ignite a rally? Dive in now!

May 17, 2025 - 03:00

Biden’s Crypto War Slammed: Bitcoin’s $150K Destiny Awaits?

On May 16, 2025, Michael Novogratz, CEO of Galaxy Digital, made waves by calling the Biden administration’s crypto policies “un-American” during a Bloomberg interview, coinciding with Galaxy’s Nasdaq debut under ticker GLXY. Novogratz, whose firm surged 15% to $23.50, predicted Bitcoin could hit $150,000 by year-end, fueled by a pro-crypto shift under President Trump. Bitcoin, now at $105,000, has climbed 6% this week, bolstered by a US-China trade truce slashing tariffs and boosting risk appetite. Posts on X echo Novogratz’s bullishness, citing Trump’s rollback of Biden-era IRS crypto tax rules.

What’s the backstory? Biden’s SEC, led by Gary Gensler, targeted firms like Coinbase with lawsuits, while the Justice Department’s crypto enforcement unit chilled innovation, Novogratz argued. Trump’s administration, however, has dismantled these barriers, with actions like pardoning BitMEX co-founders and planning a Bitcoin reserve. Galaxy’s talks to tokenize its shares further signal crypto’s mainstream push.

The impact could be massive. A $150,000 Bitcoin would reflect surging institutional demand, but risks like regulatory delays or market overheating—Bitwise’s sentiment index is at a 2024 peak—loom large. For beginners, this highlights crypto’s political sensitivity and volatility. Will Trump’s policies unlock Bitcoin’s next leap? Share your thoughts below! Follow trafy.io for more crypto insights.

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