Galaxy Digital CEO Expresses Bullish Sentiment On XRP

Galaxy Digital Chief Executive Officer Mike Novogratz has shared his recent optimistic view on XRP, its army, and Ripple, asserting that he was wrong about his earlier skepticism towards them.

Related Reading: Analyst Places XRP As The Top Coin For The 2024-2025 Bull Run

The Galaxy CEO revealed his optimism about the XRP token in a recent podcast known as Real Vision on Sunday. He previously doubted the token’s potential because he believed it would not last in the crypto market.  Novogratz stated:

I was skeptical that XRP would have lasting power because payment company Ripple owns 60% of XRP, now 55% or 50%. And I was like, ‘That just doesn’t seem a proposition that’s going to work.’ And I’ve been dead wrong.

His recent view follows Ripple’s significant court victories over the US Securities and Exchange Commission (SEC) in 2023. The United States Securities and Exchange Commission (SEC) has lost about three times to the crypto firm this year.

In October 2021, Novogratz claimed that the asset’s value had tripled since the SEC’s actions. “It’s evidence that communities are incredibly resilient once they are established around shared interests,” he added. 

Now, Mike Novogratz continued by praising the whole Ripple team and CEO Brad Garlinghouse. In addition, he also recognized Ripple’s development into a powerful player in the payment industry.

Furthermore, he also gave the “XRP Army” direct recognition, emphasizing the emotional community actively advancing and supporting its ecosystem. He confirmed the reality of the army while noting that they care about their asset and ecosystem. He stated:

Hats off to Brad Garlinghouse and his team, Ripple is now an institution. The XRP army is real, they care about their ecosystem and their coin.

Novogratz highlighted that the crypto asset presents use cases like Bitcoin (BTC). Due to this, it provides another “alternative for people who want to store value.”

So far, Mike Novogratz’s recent optimism about the asset has generated much interest in its community. Prominent XRP influencer Crypto Eri highlighted Novogratz’s remark regarding the digital asset in a post.

In a mocking response to Crypto Eri’s tweet, someone asked whether Novogratz had joined the ranks of XRP investors. He further asked whether he was still “confused” about its mission.