fbpx
QQQ
+ 7.05
312.29
+ 2.21%
DIA
+ 4.00
336.23
+ 1.18%
SPY
+ 6.32
403.85
+ 1.54%
TLT
+ 1.27
134.54
+ 0.94%
GLD
+ 1.54
169.61
+ 0.9%

Galaxy Digital's CEO On Coinbase, Bitcoin: 'We Are Just Getting Started'

April 14, 2021 10:45 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Galaxy Digital's CEO On Coinbase, Bitcoin: 'We Are Just Getting Started'

The direct listing for Coinbase is a Netscape moment for the cryptocurrency economy, Michael Novogratz, founder and CEO of Galaxy Digital, said on CNBC's "Squawk Box" Wednesday. Institutions are going to come flooding into this space, he said. 

"Squawk Box" co-anchor Andrew Ross Sorkin noted that Netscape quickly dissapeared and is not talked about anymore.

Sorkin asked Novogratz if he thinks Coinbase will be around a decade from now.

"Time will tell," the Galaxy Digital CEO responded. 

Coinbase is a crypto ecosystem company rather than a fintech company, and no one really understand how big the ecosystem's size is, Novogratz said. 

"There is going to be a lot of demand from institutional equity market investors for a stock like Coinbase."

This is not all about Bitcoin (CRYPTO: BTC), Novogratz said.

"It's about building a new financial markets infrastructure on blockchain … that's what this whole revolution is about."

The space will see staggering growth, he said, adding: "we are just getting started."

Coinbase will go public on the Nasdaq via direct listing Wednesday. Shares of the company will trade under the ticker symbol "COIN." The reference price for Coinbase is set at $250 ahead of its debut. 

BTC Price Action: Bitcoin was up 2.53% to $64,292.55 at last check Wednesday.

Image by WorldSpectrum from Pixabay


Related Articles

Bitcoin Still Has Upper Hand Over Tesla Shares, Says Analyst Who Predicted Rise To $50K

An analyst who forecasted the apex cryptocurrency’s rise to $50,000 levels last year said Thursday that Bitcoin (BTC) has a relatively upper hand compared to Tesla Inc’s (NASDAQ: read more

Tesla Has Had A Major Bull In Cathie Wood's Ark. Now The Two Are At Odds Over Elon Musk's Bitcoin Stance

Cathie Wood-headed ARK Invest’s Director of Research Brett Winton is calling Bitcoin (BTC) a “novel economic institution” and said its potential outweighs its energy requirements — a stance diametrically opposite taken by Tesla Inc read more

Cardano, Dogecoin Spike As Bitcoin, Ethereum Lose Momentum On Elon Musk, Binance Jolts

As Bitcoin (BTC) and Ethereum (ETH) lose the spark, Cardano (ADA) and Dogecoin (DOGE) are seeing some smart gains. What Happened: BTC traded 0.62% higher at $50,150.95 at press time. The apex cryptocurrency, by market capitalization, has fallen 10.9% over a seven-day trailing period. read more

Coinbase Shares Rise On Q1 Revenue, To Offer Dogecoin In 6 To 8 Weeks

Coinbase Global Inc (NASDAQ: COIN) had its first quarterly earnings report as a publicly-traded company Thursday after market close. read more