Ripple’s victory over the SEC has created widespread excitement among cryptocurrency market participants. This included cryptocurrency mogul Mike Novogratz. While Novogratz sent commendations to Pipple after the victory, he didn’t forget SEC Chairman Gary Gensler.
Crypto billionaire praises Ripple, blames Gensler!
cryptocoin.comAs you follow, Ripple’s SEC victory has set the agenda of the market in recent days. Although the court did not declare Ripple the absolute winner, the partial victory was enough for the market. Mike Novogratz, CEO of Galaxy Digital and king of cryptocurrencies, made a strong defense of Ripple on CNBC’s Squawk Box. In addition, Novogratz criticized SEC Chairman Gary Gensler. The billionaire businessman praised Ripple’s recent legal victory over the SEC. According to Novogratz, this victory is significant for both the company and the wider crypto community. In this context, Novogratz made the following statement:
It was a big, big win for Ripple and a big, big win for the crypto community! Let’s not let Gary Gensler put lipstick on a pig! They lost and they know it.
Mike Novogratz’s comments underscored his belief that the SEC’s approach to cryptocurrencies is not in line with the real needs and realities of the market. Novogratz also criticized the regulatory agency’s unclear guidelines. On this subject, he said, “The rules are absolutely not clear. The judge basically told the SEC you were wrong,” he said. In addition, Novogratz highlighted the urgent need for greater regulatory clarity. Novogratz’s sentiment echoes that of Congressman Richie Torres, who recently called on regulators to clarify their stance on cryptocurrencies.
“Bitcoin, gold, silver, I put them all in the same bucket!”
In the interview, Galaxy Digital CEO also discussed the broader economic context. He discussed the effects of the normalization of 5% budget deficits, presenting Bitcoin, gold and silver as hedges. “Governments like to spend money,” Novogratz said. In the long run, someone has to pay for it. So I put Bitcoin, gold, silver, all in the same bucket,” he explained.
Concluding his words with a rise, Novogratz stated that his comfort with Bitcoin has increased. He attributed its continued growth to continued retail interest and the anticipated launch of Bitcoin ETFs. “Bitcoin has its own story. Retail is what drives Bitcoin, and they keep buying, they keep buying. Now there is an ETF on the way. I am more comfortable with Bitcoin than six months ago,” he concluded.
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