Crypto’s ‘age of speculation’ may be ending: Galaxy’s Novogratz

Galaxy CEO Mike Novogratz says crypto's high-risk, high-reward reputation could be replaced by lower, steadier returns brought by real-world asset tokenization.

The days of outsized gains in crypto may be coming to an end as more risk-averse institutional players are entering the space, replacing retail investors who chase rapid gains, according to Galaxy CEO Mike Novogratz.

Novogratz reportedly said at the CNBC Digital Finance Forum on Tuesday in New York that it reflects the maturing industry. 

“Retail people don’t get into crypto because they want to make 11% annualized,” he said. “They get in because they want to make 30 to one, eight to one, 10 to one,” he said. 

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