Novogratz: Galaxy Digital Will ‘Suck’ if Bitcoin Fails to Become an Institutional Asset

Novogratz: Galaxy Digital Will ‘Suck’ if Bitcoin Fails to Become an Institutional Asset

Michael Novogratz of Galaxy Digital (CoinDesk Consensus archives)

With Galaxy Digital now working on an educational course for financial advisers, founder Mike Novogratz told CoinDesk he hopes it will help finally kick-start the institutional use of bitcoin, and turn around the asset manager’s fortunes.

Novogratz, a Wall Street veteran, loves a compelling narrative. “ specifically is a story about adoption,” he said a few minutes into our call. “And the next big group that’s going to adopt bitcoin as a store of value, as a digital gold, are the financial advisers.”

Earlier this week, Galaxy Digital it had partnered with the educational arm of CAIS, a financial product platform that specializes in connecting institutional investors – financial advisers, hedge funds, private equity – to alternative investments and products.

The tie-up will see Galaxy provide educational content about crypto to wealth managers and financial advisors. Although the course will offer material on the broader digital asset space, as well as on the emerging market infrastructure, it will revolve around bitcoin.

It’s a “really sweet partnership,” Novogratz said. Galaxy can make bitcoin’s investment case directly to the strata of society that controls most of the country’s wealth. “CAIS is spectacularly situated to help us educate them and then connect with them to sell our products.”

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