Galaxy Digital CEO Mike Novogratz has offered another direct praise for XRP, acknowledging its distinctive evolution.
Speaking in an interview with CoinDesk, he said XRP has achieved something “really, really complicated” in crypto: becoming money.
Novogratz reflected on how XRP defied expectations, transformed its narrative, and built a community strong enough to turn a token into a functioning monetary asset.
Turning a Token into Money Is Extremely Difficult, But XRP Did It
In the interview, Novogratz discussed how rare it is for a crypto asset to evolve beyond speculative trading and become something people genuinely treat as money. He said that only a few tokens have ever crossed that threshold, and XRP is one of them.
“How do you turn something from being a token into money? It’s really, really complicated and difficult,” he said. “So far, we’ve had a few that have done it. XRP has done it. And that surprised everybody.”
When asked whether it surprised him personally, Novogratz admitted it did. Even as Galaxy Digital remained a significant shareholder in Ripple, he shared the same early doubts about XRP that many critics vocalized over the years.
Why XRP Surprised Novogratz
Novogratz acknowledged that he once questioned the decentralization, structure, and purpose of XRP. He said he viewed XRP as “less decentralized” and “not a true blockchain” by the standards of early crypto purists. But with time, those criticisms did not matter as much as he expected.
What changed his view was not just Ripple’s growth into what he previously called a “real institution,” but the sheer force of the XRP community. The token’s global base maintained conviction during bear markets, regulatory challenges, and years of skepticism from mainstream crypto voices.
According to Novogratz, that fierce community reshaped XRP’s destiny.
“They built a fierce community of people that believed in their narrative and turned it into money. And for them, it’s money,” he said.
Notably, this comment aligns with statements he made in 2023, where he admitted he had been “dead wrong” about XRP.
Novogratz has repeatedly highlighted that community is now one of the most important forces in crypto.
In previous interviews, he compared XRP’s supporter base to Bitcoin’s, noting that both tokens serve as places people choose to store value because of belief, culture, and shared identity, not just technology.
He has also pointed to brands like Tesla to show how strong communities can push assets to valuations that defy old financial models. In his view, XRP follows that same pattern as it embodies a powerful narrative supported by a loyal community.
For the XRP Army, Novogratz’s latest admission serves as fresh validation, especially as XRP ETFs are going live and setting new records for 2025.
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