Key Takeaways
- • Galaxy Digital CEO Mike Novogratz publicly reversed his earlier skepticism of XRP, saying "I've been dead wrong" and crediting Ripple CEO Brad Garlinghouse and his team.
- • Novogratz now describes Ripple as "an institution" and says the XRP community is "real" and cares about its ecosystem and coin. He previously questioned XRP's token distribution and Ripple's large holdings.
- • The statement surfaced through a video shared on X by Paul White Gold Eagle. The source article reports no new deals, financial figures, or regulatory filings tied to the remarks.
- • Separate coverage cited in the publisher's context says Novogratz later argued that XRP's staying power rests on its community rather than institutional money, and that XRP and Cardano must show real-world business applications to remain viable.
Summary
Galaxy Digital CEO Mike Novogratz has publicly revisited his earlier stance on XRP, a shift that carries weight given his prominence among institutional crypto figures who once voiced skepticism of the asset. The remarks were shared in a video posted to X by Paul White Gold Eagle and reported by the source article.
Novogratz acknowledged that he had initially questioned XRP's long-term viability, pointing to concerns about token distribution and Ripple's significant holdings. He had doubted whether such a structure could sustain credibility in a decentralized financial environment. He now says that assessment was wrong. He credits Brad Garlinghouse and the Ripple team with building a platform that has evolved into an institution within the crypto ecosystem, and he describes the XRP community as genuinely committed to its ecosystem and its coin.
Coverage elsewhere in the publisher's context adds nuance to Novogratz's record on the asset. In an earlier post on X, he contrasted Ripple's equity, which he said was trading in the secondary market at a $2–3 billion valuation, with roughly $70 billion of XRP on the company's balance sheet. In other remarks, he has argued that XRP's relevance depends more on its community than on institutional money, and that XRP and Cardano need demonstrable real-world business applications to remain viable. These statements date from different points and are not presented here as a single, current position.
The source article does not disclose new commercial developments, treasury or ETF-related plans, or fresh market data accompanying the reassessment. Readers should treat the piece primarily as a record of a prominent institutional figure's changed view on XRP and Ripple's standing, rather than as evidence of a new fundamental development.
Novogratz acknowledged that he had initially questioned XRP's long-term viability, pointing to concerns about token distribution and Ripple's significant holdings. He had doubted whether such a structure could sustain credibility in a decentralized financial environment. He now says that assessment was wrong. He credits Brad Garlinghouse and the Ripple team with building a platform that has evolved into an institution within the crypto ecosystem, and he describes the XRP community as genuinely committed to its ecosystem and its coin.
Coverage elsewhere in the publisher's context adds nuance to Novogratz's record on the asset. In an earlier post on X, he contrasted Ripple's equity, which he said was trading in the secondary market at a $2–3 billion valuation, with roughly $70 billion of XRP on the company's balance sheet. In other remarks, he has argued that XRP's relevance depends more on its community than on institutional money, and that XRP and Cardano need demonstrable real-world business applications to remain viable. These statements date from different points and are not presented here as a single, current position.
The source article does not disclose new commercial developments, treasury or ETF-related plans, or fresh market data accompanying the reassessment. Readers should treat the piece primarily as a record of a prominent institutional figure's changed view on XRP and Ripple's standing, rather than as evidence of a new fundamental development.
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