Mike Novogratz doubted the future of XRP, but was forced to make excuses after criticizing CEO Ripple



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Mike Novogratz doubted the future of XRP, but was forced to make excuses after criticizing CEO Ripple

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Galaxy Digital CEO Mike Novogratz explained his disappointing predictions about the future of XRP tokens after criticizing Ripple CEO Brad Garlinghouse.

So, at the National LINC 2020 conference last week, Novogratz said that XRP is waiting for a difficult year, Coindesk writes.

“Think about it – the company owns 60 billion XRP coins. It’s a lot. I’m not enthusiastic about the shares, upon the purchase of which I know that someone is selling it for $ 10 billion, ”he said.

Saying Novogratz did not like CEO Ripple. He said that XRP surpassed Bitcoin last year in price increases, and also questioned the overall predictions of the head of Galaxy Digital.

Also..this is the same guy that said bitcoin will go to 20K in 2019 ‾ _ (ツ) _ / ‾ #notNostradamus

He did predict Tom Hanks would win an Oscar for Mr. Rogers – maybe this is the prediction he’ll get right? Personally voting for Brad Pitt though!

“This is the same guy who said that bitcoin would grow to $ 20 thousand in 2019. He predicted that Tom Hanks would win an Oscar for Mr. Rogers – maybe he would be right in this prediction? But personally, I vote for Brad Pitt! ”, Garlinghouse wrote.

Novograts decided to explain his words spoken at the conference. To begin with, he noted that Galaxy Digital is a major investor in Ripple Labs and is interested in “doing well with them.” He also called Garlinghouse a wonderful CEO.

At the same time, he emphasized that XRP will still have to prove its value to users, in contrast to bitcoin.

2. This year the broader alt market, including $ XRP has outperformed $ BTC. This has surprised me. That said, I see more and more large accounts getting educated and set up to be accumulators of $ BTC snd believe on a risk adjusted basis it’s the best place to bet on crypto.

“I said that XRP tokens lagged behind bitcoin last year because Ripple owns most of them. This year, the wide market for altcoins surpassed bitcoin. It surprised me.

But Bitcoin has already found its place in investor portfolios as digital gold. All other cryptocurrencies will only gain long-term value when they prove their usefulness as a product, ”Novogratz wrote.

In his opinion, XRP, like Ethereum, are still in this phase of “evidence”.

“The price of XRP will be determined in the same way as other prices. If there are more buyers than sellers (this largely depends on the company), the price will rise.

The company must rationally allocate resources and at the same time develop viable applications, ”said Galaxy Digital CEO.

Recall, the other day Ripple entered into a partnership with the money transfer provider International Money Express, against which the price of the XRP token increased by more than 12% per day.

Mike Novogratz doubted the future of XRP, but was forced to make excuses after criticizing CEO Ripple



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