Mike Novogratz, the CEO and founder of Galaxy Digital, tells CNBC in an interview that while there was a “bubble” in crypto assets this is a long-term buying opportunity because “Bitcoin is not going away.”
(Bloomberg) — Mike Novogratz, the CEO and founder of Galaxy Digital, tells CNBC in an interview that while there was a “bubble” in crypto assets this is a long-term buying opportunity because “Bitcoin is not going away.”
He says that what happened at FTX is an indictment of the company and other similar firms that are poorly run, however it is not an indictment of crypto itself.
Novogratz added that Bitcoin and blockchain are not going away because there are 150 million people who have decided to store some of their net worth in crypto.
He doesn’t see a “recovery” but a “grindout” of rebuilding trust with a lot of tokens likely to get “washed out.” However, the coins that have a purpose or that provide stability will survive and continue to grow.
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