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Mike Novogratz, CEO of Galaxy Digital and a well-known figure closely followed by crypto investors, made unexpected statements about XRP and Cardano (ADA). Novogratz, who previously brought both altcoins to the spotlight with various criticisms, has now said that he has changed his view. The CEO emphasized that the loyalty and active participation of the communities behind XRP and ADA play a critical role in determining the long-term value of these tokens. This shift in perspective has been seen as both surprising and noteworthy for investors.
Novogratz’s Previous Criticisms
In the past, Novogratz described XRP’s rise as exaggerated and referred to Cardano (ADA) as having a “strange cult-like” following. These remarks were closely watched by the crypto community and investors and sparked widespread debate. XRP’s rapid price movements and the intense activity within the ADA community, in particular, drew attention and made Novogratz’s earlier comments highly controversial.
Over time, however, Novogratz said his observations changed and that he came to recognize the crucial role communities play in understanding the long-term value of these two altcoins. According to the CEO, strong and committed communities boost adoption, expand usage, and contribute significantly to a project’s sustainability. In this context, Novogratz acknowledged that the communities behind XRP and ADA play a central role in the financial and functional success of their respective projects.
The Strong Communities Behind XRP and ADA
In his latest comments, Novogratz highlighted that both XRP and Cardano have powerful and dedicated communities. These communities are key to driving adoption, increasing real-world use cases, and creating long-term value for the tokens. He stressed that the loyalty and belief of a community are decisive factors in whether a cryptocurrency can truly evolve into a functional monetary asset.
“Cardano and XRP have strong communities. These communities play a critical role in the long-term success of the projects.”
— Mike Novogratz
In a November interview, Novogratz admitted that he had been wrong about XRP, stating that after a long struggle the token had effectively become a functional form of money. XRP’s performance beyond expectations, the evolution of its narrative, and the strength of its community led him to revise his earlier stance.
Assessment
Mike Novogratz’s updated views on XRP and ADA once again highlight the importance of community-driven strength in the crypto market. For investors, his comments underscore that strong community support can be a decisive factor in enhancing a project’s long-term value. Novogratz’s change of perspective also brings renewed attention to the institutional and community-driven growth potential of both XRP and Cardano.
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