Wall Street Expert Says Mike Novogratz Will Speak on Everything But XRP

Wall Street Expert Says Mike Novogratz Will Speak on Everything But XRP

Time Stamp: June 3, 2024 11:24 AM
Wall Street Expert Says Mike Novogratz Will Speak on Everything But XRP PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Prominent Wall Street analyst Linda Jones has suggested that billionaire crypto investor Mike Novogratz deliberately avoids discussing XRP.

This observation emerged after Novogratz participated in an interview where he was questioned about which crypto assets between XRP and Solana would be more likely to be listed in a spot ETF.

In response, Novogratz praised Solana, noting it has been the center of attention since 2023. He highlighted Solana’s significant rise over the past year, especially following the FTX fallout. 

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Notably, Solana’s market value dramatically increased from $21 in Q4 2023 to above $200 by Q1 2024, surging by more than 850% in the past nine months. This significant growth propelled it to a position just below Ethereum and BNB in the rankings. 

Based on Solana’s current status, Novogratz believes it is the next rational choice for an ETF listing.

Meanwhile, the XRP community took note of Novogratz’s omission of any argument in favor of XRP securing an ETF listing.

Novogratz “Cannot Discuss XRP”

A prominent voice within the XRP community, known as “Digital Asset Investor,” interpreted Novogratz’s remarks about Solana’s surge post-FTX as an implicit acknowledgment that the boost in Solana’s value was solely due to FTX’s involvement. “They had to pump it,” he stated. 

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Moreover, the commentator accused Novogratz of being unable to even utter ‘XRP.’

In response to these observations, Linda Jones echoed a similar sentiment. The Wall Street financial analyst stated that Novogratz would discuss anything except XRP, hinting that it was deliberate.

Actually, Novogratz Has Discussed and Praised XRP

Meanwhile, it is not entirely true that Mike Novogratz consciously avoids discussing XRP. In a podcast with industry pundit Raoul Pal last year, Novogratz recognized the legitimacy of the XRP movement, noting his newfound respect for the XRP Army.

During the podcast, Novogratz shared that he was initially skeptical about XRP’s future in the crypto market. He attributed his skepticism to Ripple’s substantial holdings of XRP. 

However, his perspective has since shifted. He praised the XRP community for its unwavering dedication to the project and commended Ripple’s CEO, Brad Garlinghouse, and the entire team. 

It is worth noting that Novogratz’s opinion that Solana is likely to secure an ETF is not an isolated view. Experts, including Bloomberg Intelligence’s ETF analyst James Seyffart, have echoed similar sentiments.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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