Michael Novogratz sees few obstacles for cryptocurrencies in 2025.
Remarking on the remarkable feat of cryptocurrencies, Michael Novogratz noted a group of earlier crypto pioneers who in the last fifteen years, tried to birth this asset into existence.
“It is just a time to pause and recognise that it was a community who got together and decided that they were going to store their hard-earned cash, worth in this technology,” he said.
If Satoshi were alive, which I don’t think he is, I am sure he would have a big smile,” he added.
Michael Novogratz sees cryptocurrencies as a technology enabling people to create trusted networks.
So, in many ways, this is a broad based coalition of people coming together to do something spectacular.” he said.
“a time to pause and recognise that it was a community who got together and decided that they were going to store their hard-earned cash, worth in this technology”
MICHAEL NOVOGRATZ
“A 2 trillion dollar asset coming from a guy’s idea is a pretty spectacular asset,” said Michael Novogratz.
He noted that cryptocurrency technology has minted a new generation of millionaires.
He explained diamond hands as a belief system for many people more than a financial asset.
“We might have seen the greatest wealth gain in the last three months for 25 to 45-year-olds in history,” he said.
He noted that this generation has a lot of money in crypto, which is broadly doubling or more depending on which collection of coins you own. He believes this will have a positive impact on the economy.
“In general, 22% of wealth shock gets spent in consumption, and I think you are going to see the table in Miami going to get bid back up in Miami nightclubs, and people are going to be buying houses and cars, and so it will be interesting to see if the Fed has an input of increase in consumption from this massive wealth gain that a bunch of young people have made,” he said.
“ 2 trillion dollar asset coming from a guy’s idea is a pretty spectacular asset”
MICHAEL NOVOGRATZ
We are witnessing a paradigm shift; Michael Novogratz sees few obstacles
“Bitcoin and the entire digital asset ecosystem are on the brink of entering the financial mainstream,” he said.
He believes momentum is being fueled by institutional adoption, advancements in tokenization and payments and a clear regulatory path.
“Early on, it morphed from a payment system to a store of value, digital gold”
– Michael Novogratz
Michael Novogratz sees few obstacles, seeing bellwether cryptocurrency, bitcoin, as the next generation’s digital gold
“Early on, it morphed from a payment system to a store of value, digital gold.
If you think of it as the new generation’s gold, it is a store of value,” he said.
Despite the high leverage, Michael Novogratz sees few obstacles for the 3.2 Trillion dollar crypto space
“Right now, there is froth, and frenzy buying Bitcoin, which is one of the first global assets,” he added, “But there is so much leverage in the system.”
“There will be some vicious retracements that will test your soul when there is that much leverage in the system it washes it out,” he said.
“We have a president that is great for the crypto industry. He has a cabinet full of crypto believers who are long crypto,” he added.
Michael Novogratz believes a pro-crypto regulatory environment which will foster innovation in the space lies ahead.
