Mike Novogratz, CEO of Galaxy Investment Partners, discussed the impact of communities on economic value in the crypto sector. In an interview, he highlighted the role of active communities, like XRP's, in altering investors' perception of value.
Community as a Value Driver
Novogratz pointed out that in the cryptocurrency world, communities that actively support their assets are more valuable. He emphasized that the XRP community is a prime example of this approach.
XRP Army and Traditional Market Examples
Previously targeted by critics, XRP's community has fiercely defended its stance, even when Ripple faced legal actions by the SEC.
Spreading Community Effect in Crypto and Beyond
This behavior has also spread to other markets, exemplified by meme stocks like GameStop and AMC, which attract interest due to the power of their communities.
Communities exert significant influence in the crypto market, extending their impact with parallels in traditional markets.
