A recent video featuring billionaire and Galaxy Digital CEO Mike Novogratz sparked discussion in the crypto community. Influencer BankXRP shared a video where Novogratz admitted he had underestimated the potential of XRP and its dedicated community.
Acknowledging the Community and Market Resilience
Novogratz initially expressed skepticism about XRP's long-term prospects due to Ripple's significant asset ownership, which he believed could limit decentralization. However, he changed his view, recognizing that the token's success significantly depends on the active XRP community.
Ripple’s Institutional Growth and Market Position
Novogratz also acknowledged Ripple's growing influence as a financial institution. He highlighted the leadership of Ripple CEO Brad Garlinghouse in driving the company's growth and expanding its role in global settlements.
The Role of Community and Utility
Novogratz emphasized the importance of community support in determining a cryptocurrency's value and gave XRP credit. He referenced Tesla as an example, emphasizing the significance of devoted supporters, but also noted the need for utility for the digital asset's stability.
Mike Novogratz's comments reflect a change in perception of XRP and Ripple, highlighting the role of community and utility in the cryptocurrency's success.
