• rippleXRP$1.56-2.24%

Mike Novogratz slams XRP and dogecoin, calls bitcoin ‘insurance’ – Markets Insider

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Mike Novogratz.

Billionaire Mike Novogratz blasted Ripple’s XRP and advised against buying dogecoin in a recent “Earn Your Leisure” interview with hosts Rashad Bilal and Troy Millings.

The CEO of crypto merchant bank Galaxy Digital said he isn’t worried about bitcoin’s long-term health because institutions like Goldman Sachs and JPMorgan are entering the space.

He predicted crypto investments will make up 2% of global wealth within two to three years, up from its current slice of half a percent.

Here are Novogratz’ 10 best quotes from the interview, lightly edited and condensed for clarity:

1. “Over the years, the XRP army has built up a real community of people that really want to believe it. It reminds me a little bit of Trump supporters, they’ll believe you stole the election. You could tell them anything. It’s like 9/11 conspiracy theories. There’s a little bit of that in crypto. They just don’t look at the truth sometimes.” – On why Ripple’s XRP has been on a tear.

2. “I’ve never liked the XRP token because you’ve got one group that owns so much of it. Let alone you’ve got the SEC breathing down the necks of the CEO, the founder, and the company.” – On Ripple’s token being a ‘painful trade.’

3. “No, you shouldn’t buy dogecoin. You
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