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Novogratz Says Stock-Market Bubble Will Probably Pop If Biden Wins

  • Crypto investor says market is in a ‘liquidity-driven frenzy’
  • He says Fed actions may push gold as high as $3,000 an ounce

Cryptocurrency investor Michael Novogratz, while a big fan of Democrats, said the relentless rally in the stock market could end if Joe Biden wins the U.S. presidency.

“Electing Biden and Harris, as much as it’s gonna be great for the country, is not going to be great for the market,” Novogratz said Friday in a Bloomberg TV interview, referring to the presidential contender and his running mate.