Mike Novogratz, former Goldman Sachs executive, Bitcoin billionaire and CEO of Galaxy Digital, posted on Twitter to say he does not believe in Litecoin’s bright future and prefers DeFi projects.
“I prefer to spend time in DeFi projects”
Novogratz responded to a tweet by Alex Saunders, founder of Nuggets News, who believes the exchanges have begun to remove privacy coins (Bittrex Monero, Zcash and Dash announced that they are delisting) and XRP.
Galaxy Digital CEO shared his doubts that Litecoin could increase its adoption because it lacks the necessary features.
For this reason, Novogratz prefers to spend time on DeFi projects and holds a long position in Bitcoin and Ethereum.
Saunders also thinks Litecoin could climb to the top 3 places as it has regulatory certainty and plans to release an update on privacy features this year.
There is also support from Grayscale (Grayscale Litecoin Trust) and Coinbase.
Earlier, Novogratz had spoken of Litecoin as a direct attack on Bitcoin and emphasized that LTC is not faster than BTC and LTC is not silver Bitcoin.
“Strange it took so long for the SEC to sue Ripple”: Mike Novogratz
After the SEC officially filed a criminal complaint against Ripple on December 21 and accused it of selling unregistered securities (XRP) to investors, Novogratz criticized Jay Clayton, stressing that it made sense for Ripple to be sued after so long.
Unlike XRP, Novogratz wrote that Bitcoin and Ethereum have a “SEC pass” as they have been confirmed as non-securities by the regulator.