A billionaire investor recently gave his insights into XRP and why crypto will remain relevant in the future despite the presence of more popular digital assets.
American businessman Mike Novogratz highlighted in a podcast that XRP owes its resilience to its community, which helped the crypto sustain its value over the years.
Resilience Of XRP
Novogratz was previously skeptical of the lasting power of XRP but in recent years, the American entrepreneur backtracked from his initial skepticism on crypto.
The billionaire investor could be the latest addition to those who have changed their opinion on XRP after seeing the crypto remain strong.
In a Galaxy Brains podcast, Novogratz acknowledged the resilience of XRP, recognizing the crucial role played by its community to keep the value of the crypt asset.
The American businessman explained that XRP began when the crypto ecosystem had not witnessed an oversupply of altcoins, adding that this condition allowed the crypto to build an actual community.
He added that the crypto community that XRP successfully built is the primary reason why the digital asset was able to sustain its relevance.
Decline Of Ethereum
Novogratz mentioned the resiliency of XRP after being asked about the declining performance of Ethereum against Bitcoin.
During the podcast, Novogratz was asked for his opinion on when the ETH-to-BTC ratio would be reversed, noting that Ethereum has already dropped significantly against Bitcoin since the merge.
The American entrepreneur explained that compared to BTC, Ethereum is a more complex proposition as a global decentralized trust layer, adding that ETH has encountered challenges because of the increase in competition and an oversupply of altcoins in the market.
“One of the reasons I think the prices of all these alts are going down is, there are too many of them. There is an infinite amount of token supply coming up […] and there is not enough time for those narratives to build community,” Novogratz pointed out.
Community Engagement Crucial
Novogratz was skeptical of the lasting power of XRP but later conceded his belief, saying that he underestimated the XRP Army and the proponents of the XRP community.
The billionaire entrepreneur said that XRP has remained relevant due to the crypto’s passionate user base, who have actively defended and promoted the digital asset over the years.
He noted that one of the essential aspects of cryptocurrency valuations is community engagement, which has played a big role in the asset valuations of XRP and Bitcoin.
The American businessman admitted that he was surprised that XRP emerged as one of the best-performing tokens in late 2024, acknowledging that it was fueled by the strength of its community.
Featured image from MoneyCheck, chart from TradingView
Christian Encila
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
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