From Critic to Supporter? Novogratz Revises His View on XRP

Novogratz Revises His View on XRP: “I Was Mistaken”

In a recent interview, Mike Novogratz, CEO of Galaxy Digital, expressed some support for the cryptocurrency XRP, claiming that it has a story. According to Novogratz, smaller ecosystems tend to endure because they have a modest story that keeps their members interested. The cryptocurrency entrepreneur has acknowledged that, despite his previous criticism of XRP, he was mistaken.

I thought lots of these ecosystems would go away. And they didn’t. And I have a very different view on this now. It’s the libertarian view. If people want to be part of the XRP Army, let them. That’s their decision,

Novogratz

Could Novogratz’s New View on XRP Spark Institutional Interest?

Novogratz used to criticize XRP, saying that he was worried about the lack of use cases and the size of Ripple’s token holdings. However, after first rejecting XRP, he now acknowledges that the token’s enduring popularity has been greatly aided by its devoted community, known as the XRP Army.

People are storing their value there. And the narrative that gets people there is often not store of value,

Novogratz

Despite not having said outright that Galaxy Digital will purchase XRP, Novogratz’s remarks reveal a renewed understanding of its durability. One thing is certain: XRP’s narrative is far from done. It remains to be seen if this change will result in increased institutional interest in XRP.

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