Mike Novogratz & Ari Paul: The Future of Crypto | SALT Talks #144

Mike Novogratz is the CEO of Galaxy Investment Partners, a cryptocurrency investment firm. Ari Paul is the co-founder and chief investment officer of BlockTower Capital, an investment firm that manages a portfolio of crypto assets. In the early stages around 2013, Bitcoin was a speculative asset that appealed mainly to libertarians and those with frustrations surrounding recent economic crises. The passion behind the decentralized finance community was unmatched and served as an early indicator of its eventual rise. Before recognizing Bitcoin as the answer, it was clear that the rapid expansion of the money supply would call for a response. With concerns around inflation, Bitcoin serves as the guard against that. "The bet of a lifetime is going to be betting on currency depreciation… it didn't click for me that Bitcoin could be that asset until 2014." Until recently, the majority of Bitcoin purchases happened at the retail level. That is partly responsible for its initial volatility. As major financial institutions become more involved and put it on their balance sheets, expect Bitcoin to stabilize and grow in value. ————————————————————————— To learn more about this episode, including podcast transcripts and show notes, visit salt.org/talks Moderated by Anthony Scaramucci.