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Galaxy Digital CEO Predicts New PayPal's Crypto Features Will Usher In A New Wave Of Institutional Interest
Summary: Galaxy Digital CEO millionaire investor Mike Novogratz commented on the importance of PayPal's embrace of cryptocurrencies during a segment of CNBC's Squawk Box on October 23. "I think that's, in some ways, the shot heard around the world on Wall Street," Novogratz said. "PayPal has 346 million accounts," he said, adding: "They're the 30th biggest ...
Galaxy Digital CEO millionaire investor Mike Novogratz commented on the importance of PayPal's embrace of cryptocurrencies during a segment of CNBC's Squawk Box on October 23.
"I think that's, in some ways, the shot heard around the world on Wall Street," Novogratz said. "PayPal has 346 million accounts," he said, adding: "They're the 30th biggest bank in the U.S. in deposits and all of a sudden every financial institution says, 'Wait a minute, what am I doing?'"
Novogratz went on to say that the announcement will spur institutional investment and banks' interest in cryptocurrency services. He predicted that over the next ten years there will be a rebuilding of financial infrastructure in the United States.
By Emily Mason
Tags: Cryptocurrency,Galaxy Digital,Mike Novogratz,Paypal
Link: Galaxy Digital CEO Predicts New PayPal's Crypto Features Will Usher In A New Wave Of Institutional Interest [Copy]
