Ex-hedge fund manager, formerly of the investment firm Fortress Investment Group and the CEO of Galaxy Investment, a cryptocurrency investment firm, Michael Novogratz, during Ethereal Summit NY has said that he doesn't see any token mania taking place again any time soon.
"I don’t see any token mania taking place again any time soon. Partly because the regulators in the US are making it really hard — they don’t want retail participating in unstructured deals with little due diligence," he said.
However, Novogratz one more time reconfirmed that he believes that bitcoin (BTC) has won the store of value. In addition, popular crypto icon said that Ethereum is by far "the most robust of the Web3.0 experiments," even though it’s got a lot of competition coming.
"For Ethereum to be a great investment, two things have to happen: It has to be a significant part of the Web 3.0 fabric in three or four years — it’s gotta win — but it also has to be seen as money," Novogratz highlighted.