Galaxy Digital boss Mike Novogratzthe biggest players Bitcoin (BTC) before you buy cryptocurrency He says he is waiting for a certain sign from the markets.
Galaxy Digital’s Mike Novogratz Says Institutions Wait For The Key Indicator To Shine Before Buying Bitcoin
In a recent interview, the crypto veteran said that institutions mostly do all the due diligence they need in this area, but they may be waiting for individual investors to step in first.
Mike Novogratz said that “crypto needs individual contributors to come back to these communities to buy, believe and drive up the price, because that’s what will get institutions involved again.
Institutions understand this business intellectually. They understand blockchain versus Bitcoin and Ethereum. They’ve done all their homework, but they’re shy. This will require energy. Energy is price,” he said.
Recently, the Ministry of Justice (DOJ) little-known crypto exchange Bitzlatoannounced that it had taken a sanction decision against , but did not disclose the name of the exchange until the press conference.
Novogratz said he hopes the execution will have nothing to do with Binance, as he says the success of the largest crypto exchange is crucial for individual investors and the crypto space in general.
“The DOJ made an announcement that it was going to announce an enforcement action… and I said, ‘Please don’t be Binance.’ Listen, we have to cheer for Binance. We must. They’re 60% or 40% of the liquidity, a huge percentage.
CZ (Changpeng Zhao) has always been very focused on customer service. That’s why it has a huge individual following who believes in our ecosystem.
We need them. It’s driving me crazy that there are so many people on Twitter and elsewhere who want to crush people and be happy that CZ fell on a banana peel.
This is the wrong way of thinking. We need CZ to be successful,” he said.
*Not investment advice.
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