Crypto billionaire Mike Novogratz has backtracked on his past comments regarding XRP.
In an interview with Real Vision, Novogratz expressed that he initially had doubts about the XRP held by Ripple.
“I was skeptical that XRP would have staying power because the company owned 60 percent of XRP. It currently owns 50-55 percent. I also thought this wasn’t something that would work and I was completely wrong. Hats off to Brad Garlinghouse [Ripple CEO] and his team. Ripple is now an institution and XRP army is real. They care about their ecosystem and their money.”
At the time of writing, XRP is trading at $0.61, according to CoinGecko data.
Speaking about Bitcoin, Novogratz stated that he had doubts that Bitcoin would be used in retail transactions:
“I don’t think Bitcoin will ever be the currency we buy Pepsi from.
“Even though people talk about Lightning and other things, you won’t be able to use Bitcoin as a currency, but the infrastructure can be used.”
At the time of writing, Bitcoin is trading at $41,199, according to CoinGecko data.
