Galaxy Investments CEO: China 'declared war' on crypto, but Bitcoin should trade ~$30,000

Bryan Bedder/Getty Images Entertainment Michael Novogratz, CEO of cryptocurrency investment fund Galaxy Investment Partners, said Thursday that China has "declared war" on cryptocurrencies as part of a new Cold War brewing with the U.S. Speaking to CNBC, Novogratz also said that the crypto market would welcome additional U.S. regulation because it would remove uncertainty about what the government plans to do. "Once you have the rules, I think that would be a relief for the market," he said. On China's steps to tamp down the private crypto market, the Galaxy CEO said that the government will do whatever it can to "smash out" any challenge to the authority of the ruling communist party. "I think we all have to regauge how we approach China," he argued. However, Novogratz still predicted "plenty" of participation in the crypto market by Chinese investors, though "it's just not going to be as easy" given