Vision

Galaxy

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Big-shot crypto player Mike Novogratz of Galaxy Digital just did a U-turn. He used to be skeptical about Ripple and XRP, but guess what? He’s owning up to it now and saying, “I was wrong.” Talk about a plot twist in the crypto world. 
At first,<a href="https://www.fxstreet.com/cryptocurrencies/news/ripple-plunges-alongside-altcoins-in-marketwide-crash-galaxy-ceo-admits-xrp-army-is-real-202312110602" target="_blank" rel="noopener nofollow"> Novogratz</a> expressed reservations about the future of XRP, pointing to Ripple’s significant ownership stake in the token as a potential concern. 
<h2 id="strong-galaxy-digital-ceo-s-xrp-admission-strong">Galaxy Digital CEO’s XRP Admission</h2> 
He openly admitted to being skeptical about XRP’s long-term viability, referring to Ripple’s initial 60%, now decreased to around 50%, ownership of the token. 
<blockquote>
 “I was skeptical that XRP would have lasting power […] And I was like, ‘that just doesn’t seem a proposition that’s going to work.’ And I’ve been dead wrong,” the billionaire admitted during a podcast. 
</blockquote> 
<blockquote class="twitter-tweet"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"> Alpha time: <a href="https://twitter.com/novogratz?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">@novogratz</a> x <a href="https://twitter.com/RaoulGMI?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">@RaoulGMI</a> 
 Please enjoy 5 takeaways from this convo… <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fae1.png" alt="🫡" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 1/ <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> Novo on Ripple’s <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">$XRP</a> triumph against all odds: “I was wrong…” <a href="https://t.co/aleePocwRQ" target="_blank" rel="noopener nofollow">https://t.co/aleePocwRQ</a> <a href="https://t.co/T3rXFbbF3L" target="_blank" rel="noopener nofollow">pic.twitter.com/T3rXFbbF3L</a> 
 — Real Vision (@RealVision) <a href="https://twitter.com/RealVision/status/1733929433717768447?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">December 10, 2023</a>
</blockquote> 
This revelation from the Galaxy Digital CEO follows Ripple’s notable legal victories this year, marking significant milestones that have propelled the company to greater prominence within the cryptocurrency industry. 
Ripple’s successful legal outcomes throughout the year have not only bolstered its standing but have also contributed to reshaping perceptions about the company and its flagship cryptocurrency, XRP. 
Now, Novogratz is giving props to Ripple’s leaders and the loyal XRP community. He’s nodding to CEO Brad Garlinghouse and the strong “XRP Army” without holding back. 
Novogratz sees their dedication in growing the XRP ecosystem, saying the “XRP Army is real” and that they genuinely care about their coin and its community. 
Meanwhile, Novogratz’s recent recognition of XRP has sparked considerable interest within the XRP community. This development didn’t go unnoticed, and in a recent tweet, well-known XRP influencer Crypto Eri brought attention to Novogratz’s noteworthy remarks about XRP. 
<blockquote class="twitter-tweet"> 
 “Hats off to <a href="https://twitter.com/bgarlinghouse?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">@bgarlinghouse</a> and his team. <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">@Ripple</a> is now, you know, an institution, you know the XRP army is real.” – Mike Novogratz (with <a href="https://twitter.com/RaoulGMI?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">@RaoulGMI</a>)<a href="https://twitter.com/RealVision?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">@RealVision</a> December 9, 2023<a href="https://t.co/kI7PDsxYUL" target="_blank" rel="noopener nofollow">https://t.co/kI7PDsxYUL</a> <a href="https://t.co/eH9Ed14W61" target="_blank" rel="noopener nofollow">pic.twitter.com/eH9Ed14W61</a> 
 — <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f338.png" alt="🌸" class="wp-smiley" style="height: 1em; max-height: 1em;">Crypto Eri <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fa9d.png" alt="🪝" class="wp-smiley" style="height: 1em; max-height: 1em;">Carpe Diem (@sentosumosaba) <a href="https://twitter.com/sentosumosaba/status/1733842277062324493?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">December 10, 2023</a>
</blockquote> 
<h2 id="strong-novogratz-s-xrp-acknowledgment-sparks-enthusiasm-strong">Novogratz’s XRP Acknowledgment Sparks Enthusiasm</h2> 
The acknowledgment from such a prominent figure in the crypto space has become one of the focal points of discussion and excitement among XRP enthusiasts. 
In a satirical response to Crypto Eri’s tweet, someone asked whether Novogratz had suddenly become an XRP investor or if he was still “confused” about XRP’s goal. 
<img loading="lazy" decoding="async" class="aligncenter wp-image-269000 size-full" src="https://bitcoinist.com/wp-content/uploads/2023/12/a-57.png?resize=482%2C140" alt="" width="482" height="140" data-recalc-dims="1"> 
Lawyer John Deaton concurred with Novogratz’s remarks and accepted that the XRP Army contributed to Ripple’s partial triumph. 
<img loading="lazy" decoding="async" class="size-medium wp-image-269002 aligncenter" src="https://bitcoinist.com/wp-content/uploads/2023/12/a-58.png?w=448&amp;resize=448%2C205" alt="" width="448" height="205" data-recalc-dims="1"> 
Novogratz had a mixed journey with XRP, initially praising the community’s resilience amid regulatory challenges. 
Despite highlighting XRP’s tripled value post-SEC actions in October 2021, his earlier criticism sparked a spat with Garlinghouse. 
Garlinghouse mocked Novogratz for his Bitcoin predictions, dubbing him “not Nostradamus.” 
The present cryptocurrency market, according to Novogratz, is a “narrative game,” in which issuers and corporations use storytelling to draw in customers and investors. 
After creating a financial market and the necessary legal framework, he anticipated that this would change in the future. 
At the time of writing, <a href="https://www.coingecko.com/" target="_blank" rel="noopener nofollow">XRP was trading at $0.62</a>, down 5.8% in the last 24 hours, and climbed 4.4% in the last seven days, data from Coingecko shows. 
Featured image from VideoGlobetrotter

XRP Blunder: Billionaire CEO Admits Mistake In Candid Revelation

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