Amid a long battle over whether or not United States citizens will get their $2,000 stimulus checks to help them to weather the economic repercussions of the COVID-19 pandemic, Mike Novogratz has weighed in on what the news could mean for the stock and crypto markets.
The CEO of Galaxy Digital spoke to CNBC Squawk Box amid the surreal image of a Wall Street apparently unfazed by the commotion in the Capitol yesterday. As a Fox News caption had it in real-time yesterday, “markets rally as protestors disrupt electoral college vote.”
A further round of stimulus checks at $2,000 each, recently approved by the House of Representatives, could, from Novogratz’s perspective, be further good news for the markets. With the Senate now flipped after the run-off in Georgia, he noted that:
“A lot of that [stimulus] will find it’s way into the markets. Certainly, when it comes into young people’s hands, they’re going right to their Robinhood accounts. One