Connect with us

Bitcoin

Mike Novogratz on XRP: “When something jumps 3x, I don’t understand”

Priya

Published

on

Mike Novogratz on XRP: "When something jumps 3x, I don't understand"
Source: Unsplash

Mike Novogratz, the CEO of Galaxy Digital spoke about the surge of XRP and Bitcoin [BTC] hike in December 2017, during an interview with CNBC Fast Money.

Mike was asked whether he thought that Bitcoin would reach $40K or if he opted out during its ATH because he thought that the market was “too dangerous”. The Founder stated that he sold a lot of Bitcoins at the end of last year. Bitcoin had gained a huge momentum during the end of 2017, the coin skyrocketed to over $20000. Along with Bitcoin, a majority of the altcoins also witnessed a massive growth in the market.

On the recent surge of XRP’s price, Mike wished that someone could explain the unexpected hike. Yesterday, XRP witnessed a growth of more than 80% in just 24 hours, which resulted in a lot of buzz in the cryptocurrency market.

Novogratz said:

“Listen, they are building a great business, you know, full disclosure, we’re a 1%, owner of Ripple, the company not the coin but the company, the company is building a great business. They’ve got a good story.”

He further added:

“When something jumps 3x, I don’t understand. You know, it’s a short squeeze, to a degree. I’m sure people were short. I’m sure there were new buyers.”

While speaking about Bitcoin, the Founder said that as a speculator for several years, he is long-term bullish on Bitcoin. Irrespective of selling a major portion of Bitcoin last year, Mike said that he bought a lot of them at its lowest price.



Furthermore, Mike stated that they had to hit pause to the launch of their hedge fund because they considered that the prices were “too dangerous” last year. He also spoke about Web 3.o and said that there will be a web 3.0 in the coming few years. The Founder shared a similar point of view for decentralized systems as well.

Mr. B XRP, an XRP Investor said:

“@novogratz “those guys have a good story” that’s your support level of @Ripple? With a 1% stake in the company one would think you might have had something nice to say. XRP’s tec will show everyone who the real KING is & the KING is coming!”





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Bitcoin

Craig Wright withdraws evidence, US Presidential Candidate emphasizes on crypto-regulation and more

Priya

Published

on

By

Craig Wright withdraws evidence, US Presidential Candidate emphasizes on crypto-regulation and more
Source: Unsplash


Daily Crypto News – April 18

Craig Wright withdraws email evidence: The self-proclaimed Satoshi Nakamoto withdrew the email evidence submitted to the court with regard to Kleiman case. This news comes days after some members in the community suggested that the email evidence was “fake”. Notably, the evidence was withdrawn as Wright could not verify the timeframe of when the emails were exchanged.

To know more, click here!

US 2020 Presidential Candidate urges the need for cryptocurrency regulation: Andrew Yang, the United States 2020 Democratic Presidential candidate, released a new policy, which emphasized on the need for regulating the digital asset place, and also listed the actions he would do for the cryptocurrency market as the President. On his official Twitter handle, Yang stated that, “Investment in cryptocurrencies and digital assets has far outpaced our regulatory frameworks”.

To read more, click here!

Bitcoin SV network witnesses yet another blockchain reorganization: It was reported that Bitcoin SV’s network witnessed another blockchain reorganization on a 128 MB block, with over six blocks orphaned [#578640–578645]. Moreover, Bitcoin SV’s network was unresponsive for over an hour.

To read more, click here!



Craig Wright takes on evidence and law: In a recent blog post, Wright speaks about proving to be the creator of Bitcoin, Satoshi Nakamoto. He stated that, “the important thing to understand is: law is law. Code (programs and algorithms) in any form is merely evidence… You see, ownership of the key is not proof of anything other than the possession of a key”

To read more, click here!





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending