RATE Group | Bitcoin rival CNBC segment shows why regulators clamping down on crypto, Novogratz says
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Bitcoin rival CNBC segment shows why regulators clamping down on crypto, Novogratz says

07 Jun Bitcoin rival CNBC segment shows why regulators clamping down on crypto, Novogratz says

Posted at 01:11h in Bitcoin News by

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Mike Novogratz, the famed hedge funder turned crypto-enthusiast, poked a little fun at a segment on financial news network CNBC when describing to rival Bloomberg News the crypto hype that marked the very start of 2018.

“CNBC, not to pick on CNBC, but I think I can since I am here, they literally had a show where they were one by one walking people through how to buy the Ripple, the XRP coin, literally when it was trading at $3.20 having moved from $0.20 8 weeks earlier,” Novogratz said speaking to Bloomberg’s Erik Schatzker.

Novogratz said that was “peak nonsense.”

Ripple’s XRP, a bitcoin rival, was technically trading above $2.57 when CNBC broke down how to buy it on exchange operator Poloniex on January 5. Still, the crypto market was red-hot then, with the entire market racing towards an all-time high market capitalization above $830 billion, according to CoinMarketCap. XRP ultimately fell to $0.49 on April 5.

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