Billionaire investor\u00a0Mike Novogratz\u00a0talked about why he is so bullish on decentralized finance (DeFi) while appearing as part of a panel at the SALT New York 2022 conference. <\/p>\n
Former hedge fund manager Novogratz is the Founder and CEO of\u00a0Galaxy Digital,\u00a0\u201ca technology-driven financial services and investment management firm that provides institutions and direct clients with a full suite of financial solutions spanning the digital assets ecosystem.\u201d<\/p>\n
Novogratz\u2019s comments were made on September 12 at a panel (titled \u201cTo the Moon and Back: Macro Outlook for Digital Assets\u201d) moderated by SkyBridge Founder and Managing Partner Anthony\u00a0Scaramucci.<\/p>\n
According to a report by The Daily Hodl, this is what Novogrtz had this to say about DeFi:<\/p>\n
\u201cI always say DeFi is going to win because it\u2019s a better product. It\u2019s composable. It\u2019s transparent. It settles automatically. It\u2019s just a better product, so [its] going to win in the long run. In the short term, there are a lot of people that don\u2019t want it to win.\u201d<\/em><\/p>\n https:\/\/youtube.com\/watch?v=FYuBa0ke–E%3Ffeature%3Doembed<\/p>\n On September 20, the Galaxy Digital CEO was asked to share his thoughts on the crypto market. His comments were made during an interview with Andrew Ross Sorkin on CNBC\u2019s \u201cSquawk Box\u201d.<\/p>\n Per a\u00a0report\u00a0by The Daily Hodl, Novogratz had this to say about Ethereum and Bitcoin:<\/p>\n \u201cEthereum has had a pretty big move down. We had the merge. The merge was an amazing accomplishment in lots of ways, right? It shows that a decentralized community can accomplish something that\u2019s really complicated. And so I think we\u2019ll look back on that as something really significant. You know, Ethereum had gone from $1,000 to $2,000. And so now you\u2019ve had a real big pullback. It feels like $1,250 should be the bottom here and so I think you\u2019re closer to the bottom than the top.<\/em>..<\/p>\n