{"id":79637,"date":"2023-06-02T11:08:00","date_gmt":"2023-06-02T08:08:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79637"},"modified":"2025-09-11T12:10:33","modified_gmt":"2025-09-11T09:10:33","slug":"mike-novogratz-says-the-crypto-market-is-apathetic-as-institutions-retreat","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mike-novogratz-says-the-crypto-market-is-apathetic-as-institutions-retreat\/","title":{"rendered":"Mike Novogratz says the crypto market is apathetic as institutions retreat"},"content":{"rendered":"<p>There has lately been a lack of interest among institutional investors in buying cryptocurrencies, which has dampened overall enthusiasm. Galaxy Digital <a href=\"https:\/\/u1f987.com\/en\/news\/who-is-mike-novogratz\">Mike Novogratz<\/a> told CNBC.<\/p>\n<p><iframe loading=\"lazy\" width=\"1275\" height=\"717\" src=\"https:\/\/www.youtube.com\/embed\/nj51qbQ_VSs\" title=\"Crypto is lackadaisical right now, says Galaxy Digital CEO Michael Novogratz\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abThere are buy orders from retail investors. [\u2026] There isn\u2019t much institutional hype right now\u00bb<\/em> \u2014 the expert explained.<\/p>\n<\/blockquote>\n<p>According to Novogratz, the situation could be changed if the popular Chinese app WeChat added an option to view Bitcoin quotes.<\/p>\n<p>Secondly, he named<a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-regulator-proposes-rules-for-cryptocurrency-platforms\"> expansion<\/a> of regulated platforms in Hong Kong trading digital assets for retail investors. The Galaxy Digital CEO saw this as a sign of growing popularity of cryptocurrencies in the region.<\/p>\n<p>Tommy Honan, Swyftx&#8217;s head of product strategy, in an interview with <a href=\"https:\/\/cointelegraph.com\/news\/crypto-markets-flat-as-institutional-buying-slows-mike-novogratz\"> Cointelegraph<\/a> agreed with Novogratz&#8217;s arguments about the impact of institutional investors.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abThe level of activity is definitely more subdued. But this concerns not only institutions; retail investors have suffered from a spike in the cost of living\u00bb<\/em> \u2014 Honan noted.<\/p>\n<\/blockquote>\n<p>The expert expects the market to recover as large companies return.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abInstitutions will return to the market, and when they do, they will have a hard time. This hasn&#8217;t happened in the United States yet. [\u2026] Clear and reasonable rules for digital assets are needed, or a Republican victory in next year&#8217;s elections\u00bb<\/em> \u2014 Honan explained.<\/p>\n<\/blockquote>\n<p>The expert agreed with Novogratz on the opportunities that Hong Kong opens up for the crypto market.<\/p>\n<p>Earlier, documents to operate as a regulated Bitcoin exchange in Hong Kong were filed by <a href=\"https:\/\/u1f987.com\/en\/news\/osl-seeks-extension-of-hong-kong-regulators-license\"> OSL<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/huobi-applies-for-licence-to-operate-crypto-exchange-in-hong-kong\">Huobi<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/okx-to-apply-for-a-hong-kong-license\">OKX<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/bitmex-to-obtain-license-in-hong-kong\">BitMEX<\/a>.<\/p>\n<p>In January, Hong Kong&#8217;s Financial Secretary Paul Chan <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-signals-commitment-to-developing-the-crypto-industry\">said<\/a> the jurisdiction was ready to welcome cryptocurrency companies from around the world.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There has recently been a lack of interest among institutional investors in buying cryptocurrencies, which has affected overall enthusiasm. Galaxy Digital CEO Mike Novogratz said so in an interview with CNBC.<\/p>\n","protected":false},"author":1,"featured_media":79638,"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":[832,1145,1303,1138],"class_list":["post-79637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-hong-kong","tag-market-analysis","tag-mike-novogratz","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79637","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=79637"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79637\/revisions"}],"predecessor-version":[{"id":79639,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/79637\/revisions\/79639"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/79638"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=79637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=79637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=79637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}