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Crypto billionaire Mike Novogratz is walking back his past skepticism of XRP<\/a>.<\/p>\n In a new interview<\/a> on Real Vision, the chief executive of crypto investment firm Galaxy Digital says he was initially dubious about XRP because of the amount held by San Francisco payments company Ripple.<\/p>\n \u201cI was skeptical that XRP would have lasting power because Ripple the company owns 60% of them, now 55% or 50%. And I was like, \u2018That just doesn\u2019t seem [like] a proposition that\u2019s going to work.\u2019 And I\u2019ve been dead wrong. Hats off to [Ripple CEO] Brad Garlinghouse and his team. Ripple is now an institution. The XRP army is real. They care about their ecosystem and their coin.\u201d<\/em><\/p>\n XRP is trading at $0.622 at time of writing.<\/p>\n In the same interview, Novogratz also expressed<\/a> doubt that Bitcoin (BTC<\/a>) will ever be used as a currency for retail transactions.<\/p>\n \u201cI don\u2019t think Bitcoin will ever be a currency that we buy Pepsi cola with. It started off [and] people bought illicit sh*t with it, but no one\u2019s buying stuff with Bitcoin. As much as people will talk Lightning [Network] and other things, yeah you might use the infrastructure, but you\u2019re not going to use Bitcoin as a transaction currency.\u201d\u00a0<\/em><\/p>\n At time of writing, Bitcoin is worth $41,859.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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