Mike Novogratz, founder and CEO of Galaxy Digital, while known as one of the leading altcoin investment firms, announced that he has changed his views on Ripple (XRP) and its native token. Novogratz, who previously had a skeptical attitude about Ripple and XRP, stated that he has a positive perspective after the success and resistance of the company and its community against the legal challenges faced.
Thought Changing with Legal Victory
Although Novogratz is known for his generally positive views on Bitcoin and other altcoins, his previous stance was notable for viewing a large stake in Ripple’s token as a potential liability. However, he revised his views after Ripple’s legal victories in 2023.
Novogratz, who previously found it worrying that Ripple had 60% of the total supply, stated that this rate decreased to around 50% over time. After witnessing the legal victories, Novogratz put aside his previous skepticism about XRP and appreciated the strength and loyalty of the community, which he calls the XRP Army.
Praise for Ripple CEO
Novogratz praised Ripple’s CEO Brad Garlinghouse for his leadership and vision, emphasizing the company’s strong standing and successfully resisting legal challenges. Stating that he appreciates XRP’s efforts to support and grow the ecosystem around the token used for cross-border payments and remittances, he stated that XRP has proven itself as a unique and valuable asset in the crypto space.
Follow Closely
While Novogratz’s positive change of opinion about XRP attracts attention within the crypto community, developments regarding the future of Ripple and the altcoin XRP will continue to be closely monitored.