{"id":34741,"date":"2021-01-14T18:21:58","date_gmt":"2021-01-14T16:21:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34741"},"modified":"2025-08-28T22:00:48","modified_gmt":"2025-08-28T19:00:48","slug":"mike-novogratz-institutions-have-not-yet-fully-grasped-the-crypto-market","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mike-novogratz-institutions-have-not-yet-fully-grasped-the-crypto-market\/","title":{"rendered":"Mike Novogratz: Institutions have not yet fully grasped the crypto market"},"content":{"rendered":"<p>Institutional investors, who discovered cryptocurrencies about six months to a year ago, are not even close to satisfying their interest. We are only at the beginning of the path to the emergence of asset managers, insurance companies and other large players, says Galaxy Digital founder Mike Novogratz.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Galaxy Digital CEO <a href=\"https:\/\/twitter.com\/novogratz?ref_src=twsrc%5Etfw\">@Novogratz<\/a> on <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a>: \u00abThe institutions who are coming into this space now that weren\u2019t in the space six months ago, [a] year ago, don\u2019t have their fill yet. Not even close. We\u2019re in the first inning of a 9-inning game with insurance companies, asset managers\u2026\u00bb <a href=\"https:\/\/t.co\/hPClp8R9o4\">pic.twitter.com\/hPClp8R9o4<\/a><\/p>\n<p>\u2014 Yahoo Finance (@YahooFinance) <a href=\"https:\/\/twitter.com\/YahooFinance\/status\/1349386174541017088?ref_src=twsrc%5Etfw\">January 13, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The former Goldman Sachs vice president is confident that all such 20% pullbacks, such as <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-falls-below-34000\">in mid-January<\/a>, will be bought. At the same time, Novogratz sees only a slim chance that in the short term the price of bitcoin will breach the psychological level of $50 000.<\/p>\n<blockquote>\n<p>\u201cWe are witnessing a transition from retail players with leverage to \u2018deeper pockets\u2019, \u2018longer arms\u2019 [of institutions]. If you are an insurance company buying bitcoin, you are not buying it for a two-month horizon; you are buying it as a long-term asset,\u201d said Galaxy Digital CEO.<\/p>\n<\/blockquote>\n<p>Novogratz views bitcoin as digital gold, and altcoins as a means of payment.<\/p>\n<p>According to Bitcoin Treasures data, over the past year institutional investors <a href=\"https:\/\/u1f987.com\/en\/news\/institutions-bought-more-than-1-million-btc-worth-about-40-billion-at-current-prices\">bought more than 1 million BTC<\/a> \u2014 5.57% of the cryptocurrency\u2019s circulating supply at the time of writing.<\/p>\n<p>Billionaire Howard Marks was another major investor who <a href=\"https:\/\/u1f987.com\/en\/news\/howard-marks-concedes-that-his-critique-of-bitcoin-was-unfounded\">admitted that his critique of bitcoin was unfounded<\/a>. Before him, similar conclusions were reached by <a href=\"https:\/\/u1f987.com\/en\/news\/billionaire-ray-dalio-admits-he-may-have-been-wrong-about-bitcoin\">Ray Dalio<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/prominent-billionaire-flags-bitcoins-edge-over-gold\">Stanley Druckenmiller<\/a>.<\/p>\n<p>Subscribe to the ForkLog channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Institutional investors, who discovered cryptocurrencies about six months to a year ago, are not even close to satisfying their interest. We are only at the beginning of the path to the emergence of asset managers, insurance companies and other large players, says Galaxy Digital founder Mike Novogratz.<\/p>\n","protected":false},"author":1,"featured_media":34742,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1156,1303,1138],"class_list":["post-34741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-institutional-investors-and-whales","tag-mike-novogratz","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=34741"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34741\/revisions"}],"predecessor-version":[{"id":34743,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34741\/revisions\/34743"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/34742"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=34741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=34741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=34741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}