Galaxy Digital CEO Mike Novogratz once again directly praised XRP, acknowledging its unique evolution.
speak at interview With CoinDesk, he said XRP has achieved something “really, really complex” in cryptocurrencies: becoming money.
Novogratz recalled: XRP It has built a community strong enough to subvert expectations, transform its narrative, and turn tokens into functioning financial assets.
Asked if he was personally surprised, Novogratz admitted he was. Even if Galaxy Digital remains relevant; ripple shareholdershe shared the same early doubts about XRP that many critics have voiced over the years.
Why XRP surprised Novogratz
Novogratz admitted that he once had doubts about XRP’s decentralization, structure, and purpose. He said he believes XRP is “less decentralized” and “not a true blockchain” by the standards of early cryptocurrency purists. However, over time, those criticisms became less important than he expected.
It wasn’t just Ripple’s growth into what he previously called a “real institution” that changed his perspective, but the sheer power of the XRP community. The token’s global base remained confident despite a bear market, regulatory challenges, and years of skepticism from mainstream crypto voices.
According to Novogratz, that fierce community changed XRP’s fortunes.
“They’ve built a fierce community of people who believe in their story and turn it into money. And for them, that’s money.” he said.
Notably, this comment is consistent with a statement he made in 2023. admitted He was “completely wrong” about XRP.
Novogratz has repeatedly emphasized that the community is one of the most important forces in cryptocurrencies right now.
In a previous interview he said, Comparing the supporter base of XRP with the supporter base of Bitcoinpointed out that both tokens serve as places where people choose to store value, not only for technology but also for beliefs, culture and common identity.
He also pointed to brands like Tesla to illustrate how strong communities can drive assets to valuations that defy old financial models. In his view, XRP follows the same pattern because it embodies a strong narrative supported by a loyal community.
For the XRP army, Novogratz’s latest admission serves as another validation, especially as the XRP ETF begins operations and sets new records heading into 2025.