Galaxy CEO Mike Novogratz told Nicole Lapin the era of crypto investors aiming to "10X their money," is likely over for "any scalable thing," minus the occasional one-off.
The broad, scalable crypto market is likely moving beyond the era where investors could reasonably expect 10x returns as a base case. As institutional participation, market capitalization and liquidity grow, upside become harder to replicate at scale. Exceptional outliers may still deliver venture style multiples, but they should be viewed as idiosyncratic opportunities not the default crypto return profile.
#CryptoMarkets $GLXY.US
The broad, scalable crypto market is likely moving beyond the era where investors could reasonably expect 10x returns as a base case. As institutional participation, market capitalization and liquidity grow, upside become harder to replicate at scale. Exceptional outliers may still deliver venture style multiples, but they should be viewed as idiosyncratic opportunities not the default crypto return profile.
#CryptoMarkets $GLXY.US