Mike Novogratz, CEO of cryptocurrency management company Galaxy Digital, warns of XRP and Dogecoin.
Mike Novogratz: XRP could suddenly depreciate!
– I’ve seen a lot of weird coins like Dogecoin and even XRP have seen their retail sales surge, which means there’s a lot of madness to it right now. It never ends well, suddenly quickly, there will be a crash in one moment – said the CEO of Galaxy Digital.
However, Novogratz is reassuring long-term investors. He believes that the entire cryptocurrency sector will gain a lot in the long run. In an interview with CNBC presented his point of view. As he calculated, today the capitalization of BTC and altcoins is relatively low if you look at the market potential.
– If you do not think that in two to three years [kapitalizacja kryptowalut] can be equal to 2-3% [światowego bogactwa]then you don’t pay attention to trends. The degree of growth we will see in our space is staggering – He said. – We are just getting started and, importantly, the institutions are realizing that this is a class [aktywów]. It wasn’t the price range eight months ago. (…) I prayed that it would happen. I tried to convince people that it would be like that. But it is certain now. And every participant [rynku]with whom we spoke to is involved in this – added.
Bitcoin for seniors
Earlier he said that the scale of BTC adoption surprised him. His company also wants to offer BTC to seniors.
– You know, it surprises me. (…) the adoption I see is shocking and it’s not like I’m just a guess [analizując rynek]. I look back, look ahead and see all the new projects that are coming, banks that will have products for their wealth management companies. Every major bank in America is working on a wealth management product, so we’re going to reach the baby boomer generation sooner than expected – He said.
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