Mike Novogratz
Billionaire Mike Novogratz Says Bitcoin Market Is ‘in Good Shape’ — China Has ‘Less and Less’ Influence Over Crypto
The billionaire investor and CEO of Galaxy Digital, Mike Novogratz, says the bitcoin market is in good shape, noting that he sees “so much capital coming into the space.” He also commented on the dwindling influence China has over the crypto market. Billionaire Investor Says the Market Is ‘in Good Shape’ — ‘I’m Not Nervous’ […]Here’s What Triggered Bitcoin’s Painful Plunge, According to Galaxy Digital’s Mike Novogratz
Billionaire Mike Novogratz believes Bitcoin’s big price drop this week is no surprise. The value of the top coin plunged by 17% to $43,050 on Tuesday, its lowest price in nearly a month. In a new interview with Bloomberg TV, the CEO of digital asset firm Galaxy Digital says BTC became overbought as a series […]
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Mike Novogratz blasts US officials for poor grasp of crypto industry
The billionaire crypto proponent said politicians and regulators have a flawed understanding of crypto and its technological underpinnings.
Amid the chorus of stringent crypto regulations among several United States leaders, proponents such as Galaxy Digital CEO Mike Novogratz look to counter anti-cryptocurrency sentiments circulating in Washington.
Tweeting on Tuesday, Novogratz described crypto as the “future of our financial systems” while adding politicians and regulators ought to do their homework before devising policies to regulate the industry.
Novogratz’s tweet was in response to Senator Elizabeth Warren’s remarks where the Senator from Massachusetts once again espoused anti-crypto sentiments, calling cryptocurrency “the wild west” of the U.S. financial system.
Senator Warren has been a vocal proponent of more stringent crypto regulatory policies, even querying officials such as Gary Gensler, Chairman of the Securities and Exchange Commission and Treasury Secretary Janet Yellen to come up with stricter rules for digital currencies.
Speaking to the Aspen Security Forum on Tuesday, Gensler recognized the value proposition of Bitcoin (BTC) and crypto assets, albeit stating that cryptocurrencies were “highly speculative stores of value.”
As previously reported by Cointelegraph, Gensler has expressed the need for more robust crypto regulations in America. According to the SEC Chair, such policies should cover token sales and crypto exchanges and decentralized finance as cryptocurrency lenders.
Related: Sen. Warren urges Treasury Secretary Yellen to combat rising crypto threats
Novogratz’s comments about the lack of understanding being displayed by some politicians on the subject of crypto regulations seem to have become a point of focus in the ongoing discussions surrounding the planned $1trillion infrastructure.
Additions to the bill in the form of an expanded crypto taxation regime that could bring in $28 billion in extra funding for the infrastructure deal have caused some debate among senators in Washington. Given the broad verbiage employed in the bill’s wording, miners and software developers could be burdened with onerous taxes.
Senators such as Patrick Toomey have called for express exemptions for non-crypto trading entities like miners and software developers from the proposed expanded crypto tax rules.
Miley Cyrus performs at birthday party for Mike Novogratz’s daughter
Pop starlet Miley Cyrus was spotted performing at an extravagant private birthday party for actress Gabriela Novogratz, the daughter of Galaxy Digital CEO Mike Novogratz.
Pop starlet Miley Cyrus has performed at a private party hosted by Galaxy Digital CEO, Mike Novogratz.
According to an August 2 report from Dan’s Paper, the event was held to celebrate the birthday of the billionaire’s daughter, actress Gabriela Novogratz.
Cyrus donned a red leotard and performed an assortment of her hit songs including “Wrecking Ball” and “Party in the USA,” in addition to delivering covers of Sinead O’Connor, The Pixies, and Blondie, among others. The appearance was Cyrus' first performance since Lollapalooza 2021 in Chicago on July 29.
In line with the party’s Coney Island Mermaid Parade theme, Cyrus performed from a tent plastered with giant mermaids at Novogratz’s home in Amagansett, Long Island.
Page Six describes the event as resembling a carnival, noting the attendance of stilt-walkers, aerial acrobats, and Hot Dog Eating Contest champion, Joey Chestnut. Guests entered the party via an enormous entrance resembling a box office, with neon lights spelling the work “Novopark” above the entrance.
The party also hosted a silent disco where guests could hit the dancefloor wearing headphones playing their favorite tunes.
Novogratz, who has been described as “one of Wall Street’s hardest-charging party animals,” posted a picture to Instagram of himself donning a bandana, metallic blazer, no shirt, and painted-on abdominal musculature during the party alongside his son dressed as a sailor.
Related: US crypto community overtaking Asia, says Mike Novogratz
Novogratz has recently spoken on the Chinese mining crackdown and exodus, asserting that the events will bolster the international standing of North American miners, and may prove to be an overall positive for the sector with time.
At the end of June, Galaxy Digital issued a $20 million Bitcoin-backed loan to U.K.-based crypto miner, Argo Blockchain, to fund the construction of a data center in West Texas.
Mike Novogratz Says Institutions Are Buying Bitcoin, Politicians Need More Crypto Education
Galaxy Digital CEO Michael Novogratz says that cryptocurrencies, such as bitcoin, have bounced back because institutional investors are buying. Responding to U.S. Senator Elizabeth Warren’s anti-crypto stance, he stated, “We need to do a much better job going to D.C.” to educate lawmakers. Novogratz Says Institutions Are Buying Galaxy Digital CEO Mike Novogratz talked about […]FTX Slashes Leverage Limit from 100x to 20x — Community Suspects Competitors Will Follow Example
FTX CEO Sam Bankman-Fried told his Twitter followers on Sunday that his crypto exchange has lowered its margin trading limit from 101x to 20x. Prior to the change, FTX supported 50x, 100x, and 101x leverage but Bankman-Fried said these high leverage positions represent “a tiny fraction of volume.” FTX CEO Announces Cutting Leverage Limits, 2x […]Los Angeles Dodgers to Auction 2020 World Series Ring NFT via Candy Digital
After Major League Baseball (MLB) revealed a partnership with Candy Digital, the Los Angeles Dodgers announced it is auctioning a non-fungible token (NFT) World Series championship ring, a physical version, and a VIP first pitch experience. The NFT collection will start with an online auction on Monday, July 12, and net proceeds will go to […]US crypto community overtaking Asia, says Mike Novogratz
“China has declared war on crypto as part of this broader cold war that we’re getting into,” Mike Novogratz stated.
As Bitcoin (BTC) has continued trading sideways after dipping below $33,000 on Thursday, Galaxy Digital CEO Mike Novogratz has provided some geopolitical observations regarding the industry.
In an interview with CNBC’s Squawk Box, Novogratz said that Bitcoin price is now consolidating between $30,000 and $35,000, suggesting that the United States’ crypto community is now taking the lead in the market amid a bearish trend coming from Asia.
The longtime Bitcoin bull noted that China’s crackdown on the crypto market is part of broader issues in the market, stating:
“What we’re seeing is Asia sells it off, and then the U.S. buys it back. China has declared war on crypto as part of this broader cold war that we’re getting into, and so I think we’re still digesting that.”
Novogratz also pointed to a possible correlation in Bitcoin ownership within diversified portfolios, noting that some investors could be offloading some of their crypto holdings. “If you’re a hedge fund and you’re getting whacked in your rate position and your equity position and your oil position, you’re probably going to sell some of your crypto as well," he said, adding "It just takes a while for it to build a more diverse investor base.”
Related: China’s miner exodus a ‘big net positive for crypto,’ Mike Novogratz says
After hitting an all-time high above $64,000 in mid-April, Bitcoin has been consecutively dropping in recent months, largely prompted by alleged environmental concerns over Bitcoin mining as well as a major crackdown on crypto investment and mining by Chinese authorities. The overall sentiment on the crypto markets has been further deteriorating to “extreme fear” levels amid global financial regulators taking multiple actions against Binance, the world’s largest crypto exchange.
But despite the market’s growing concerns, some major players in the U.S. have continued their efforts to further nurture the industry in the country. On Thursday, major U.S. mining company Gryphon Digital Mining purchased a major batch of crypto miners from Bitmain, a Chinese mining giant that had to halt its spot sales amid China’s crackdown on crypto mining. In June, Miami mayor Francis Suarez publicly invited foreign crypto mining companies to consider establishing data centers in the city amid miner capitulation in China.
Twitter CEO Jack Dorsey keeps saying ‘no’ to Ethereum
Despite Twitter releasing 140 NFTs on the Ethereum blockchain, Twitter's CEO continues to reject the altcoin as an investment.
Twitter CEO Jack Dorsey has again rejected the idea of him buying into Ether (ETH) despite the social media platform's activities with Ethereum-based nonfungible tokens (NFTs).
On Wednesday, the social media platform announced a giveaway through Rarible, a major NFT platform utilizing the Ethereum blockchain network for minting digital collectible tokens.
But despite Twitter releasing 140 NFTs on Ethereum — the foundation for the second most-valued cryptocurrency after Bitcoin (BTC) — Dorsey apparently remains loyal exclusively to Bitcoin.
Following the NFT news, Twitter user Packanimal suggested that it was “only a matter of time before” Dorsey invested in Ether, to which the CEO simply replied “No.”
No.
— jack (@jack) June 30, 2021
The crypto community subsequently reacted to Dorsey’s two-letter take on Ethereum, with Cinneanhaim Ventures’ Adam Cochran criticizing Twitter CEO for “still being a BTC maxi” while Twitter “prints Ethereum-based NFTs on Rarible.” “With this level of mental gymnastics I'm surprised he won't be representing the US at the 2021 Olympics in Tokyo this year,” Cochran added.
Dorsey, who’s also a co-founder and CEO of crypto-friendly digital payments firm Square, previously expressed his loyalty to Bitcoin alone, stating in a 2019 tweet, “I only have Bitcoin.” At the Bitcoin 2021 conference in early June, he said, “Bitcoin changes absolutely everything. [...] I don’t think there is anything more enabling for people around the world.”
Related: Michael Saylor is not just a Bitcoin maximalist: ‘There’s a place for everybody’
An early Bitcoin believer, Dorsey has repeatedly argued that Bitcoin will be the single currency of the internet since at least 2018. He previously rejected moving into altcoins like Ether, claiming that he invested only in Bitcoin in 2019.
Dorsey’s remarks come as some of the biggest Bitcoiners admit that Ether could eventually flip Bitcoin as the world’s largest cryptocurrency. Mike Novogratz, founder and CEO of crypto investment firm Galaxy Digital, predicted Thursday that Ether could become the “biggest cryptocurrency one day.”