Galaxy Digital CEO Michael Novogratz says massive capital from other countries is flowing into Bitcoin amid support from pro-crypto President Donald Trump.

Bitcoin, one of the “Trump trades,” lived up to its billing following the Republican president’s victory. The pioneering cryptocurrency surged over 40% from sub-$68,000 on November 5 to its current market price of $92,453.

Notably, the surge is tied to Trump’s pro-crypto stance during his electoral campaign. Trump branded himself as the “Bitcoin President,” promising to create a friendly environment for the industry to thrive in the United States.

Meanwhile, Galaxy Digital CEO Michael Novogratz stated that Trump’s adoption of Bitcoin is drawing the attention of other countries. In a tweet on Tuesday, citing his recent interview with Bloomberg, Novogratz noted Bitcoin is witnessing massive capital inflow following Trump’s win.

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