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Real Vision: Finance & Investing

The Perfect Macro Story( w/ Mike Novogratz & Raoul Pal )

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.11.1K Ratings

🗓️ 13 January 2021

⏱️ 56 minutes

🧾️ Download transcript

Summary

Crypto Wednesday: Mike Novogratz, CEO of Galaxy Digital Holdings, joins Real Vision ceo Raoul Pal to discuss investing in the crypto space, the risk curve, and accelerating crypto adoption. Novogratz breaks down how he allocates his own crypto portfolio and touches on some of the lessons he learned in the 2017 crypto bubble. He explains the impact that COVID-19 had on crypto and the digitization of everything. Novogratz describes the different products and funds available through Galaxy Digital Holdings.Key Learnings: The crypto investment space is growing quickly, and Novogratz shares some of the lessons learned from the previous crypto bubbles he has experienced. He explains the importance of staying rational, and touches on some of the key metrics he follows, such as, market cap and fully diluted market cap. Community and use or "pick up" of a project are core components he looks at when studying a new crypto investment. Recorded on December 10, 2020. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Oh, Mike good to get you back as ever. Thank you for reaching out. You saw me

0:19.3

getting buried on Twitter. I did talking about trying to get people's heads around the fact that it's a big world out there.

0:27.0

Look, you know, you're at the forefront of all of this, you've been involved forever.

0:32.0

What is this alt- coins, the digital asset space? What does it mean to you?

0:37.2

So you know it's interesting, you know all coins in some ways got a bad rap in 2017 because there were so many coins that got issued.

0:46.7

Some had real purpose, others didn't.

0:49.8

They all believe they had purpose.

0:52.4

In the crash of 18, you know, all coins went down 99%.

0:57.0

Crypto market cap went down 98%, right?

1:01.0

Bitcoin maybe down 80 ether a little more, but lots of people lost lots of money.

1:05.6

And so there is a, there's a, you know, the term shit coin, alt coin has a taint to it. I like to think of things in three buckets, right?

1:17.0

I, Bitcoin really is digital gold has kind of taken this idea of store value and one.

1:25.0

One for a lot of reasons. I think partly, you know, that it had this, you know,

1:32.0

immaculate conception if you want to think about it, you know,

1:35.0

Satoshi, whoever she is or he is, or they are, puts this piece of code into the end of the river and it grows into this

1:44.6

350 billion dollar you know vibrant ecosystem I don't think it would have

1:50.0

impossible if you know who Satoshi was.

1:52.8

Gold came from the Incas and the Aztecs.

1:55.9

I thought it came from God.

1:58.0

Same thing with the Egyptians, right?

1:59.2

They thought it was this blessed metal.

2:00.5

And so there's something magic about it.

...

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