Galaxy Digital founder and CEO Mike Novogratz has declared that the cryptocurrency industry is entering a new phase, shifting from speculative hype to a 'build-for-users' era. Speaking at the Solana Breakpoint conference, Novogratz argued that clearer regulatory frameworks are providing the stability needed for developers to focus on creating tangible products for mainstream adoption.
Novogratz emphasized that durable value in digital assets stems from communities that deliver real innovation and grow user networks, not from market cycles driven by speculation. He singled out Solana (SOL) as a prime example, describing it as 'a blockchain born for capital markets' due to its high speed and scalability. He highlighted Galaxy's collaboration with Jump Trading to build high-performance infrastructure suitable for large-scale, institutional trading environments.
Reflecting on a volatile 2024, Novogratz maintained a firm bullish outlook on Bitcoin (BTC). He revealed that a major Galaxy client executed a $9 billion Bitcoin sale this year, representing early investors taking profits and rebalancing portfolios. However, he noted that consistent inflows from new buyers prevented a market collapse, underscoring sustained institutional interest.
His optimism was further reinforced by discussions at Abu Dhabi Finance Week, where he observed growing conviction among global investment firms, sovereign wealth funds, and major financial institutions. Novogratz concluded that global interest in blockchain technology is accelerating, not plateauing, as governments and corporations prepare for deeper integration of digital assets into global markets.
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