Members of cryptocurrency ecosystems have much in common with anti-vaxxers. At least Galaxy Digital CEO, Mike Novogratz, believes so, Markets Insider reports.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
During his speech at the Barclays Financial Services Conference, he noted that cryptocurrency ecosystems are "unbelievably rabid" as holders want their crypto to skyrocket:
"They are passionate. It is like an anti-vaxxer — you cannot tell an anti-vaxxer they are wrong, right? They have personalized this stuff."
Novogratz has not left hyped cryptocurrencies untouched as well. He said that tokens like cardano (ADA) or dogecoin (DOGE) do not make sense to rational investors as they have limited functions or heady valuations. However, the cryptocurrency market is only getting started. Failing to invest in it would be similar missing the internet in the early 2000s, the Digital Galaxy CEO thinks.
Novogratz's comments come after he reiterated his belief in the cryptocurrency market despite a flash crash on September 7. According to him, the fall in the price of bitcoin (EXANTE: Bitcoin) is associated with high stress in the space. He believes that the market is still being dominated by retail investors who overreact to price volatility.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.