Billionaire Mike Novogratz Applauds XRP Army, Says Their Loyalty Matches Bitcoin’s Fanbase

Galaxy Digital CEO Mike Novogratz has again commended the XRP Army for their resilience, saying their loyalty rivals that of Bitcoin supporters. Speaking with Coin Stories host Natalie Brunnell, he described XRP proponents as one of the most passionate and committed groups in the entire crypto industry. In a session of the discussion, Novogratz asked Brunnell why she thought XRP had managed to survive for so long. Brunnell said it came down to strong marketing and significant funding. When Novogratz pressed her on where that funding came from, she suggested it was the result of token sales and an initial coin offering.  That point wasn't entirely accurate, as Ripple never held an ICO , and XRP existed before Ripple emerged as a company. However, Ripple does fund operations by periodically selling part of the XRP it received as a gift early in the token's history. Novogratz Commends the XRP Army Novogratz pointed out that the so-called "XRP Army" shows the same level of dedication to their token as Bitcoiners do to theirs. This aligned with his comments earlier this year, suggesting that XRP has survived because of its community. In his latest commentary, Novogratz called the crypto industry deeply tribal and said these communities thrive on shared beliefs and identity. Using himself as an example, he noted how he has tattoos of both Bitcoin and Terra Luna, symbols of his own connection to crypto tribes. He admitted that he once believed Bitcoin stood alone as digital gold , while other cryptocurrencies needed real-world utility to have value. Over time, he realized that the true driver behind crypto's success is a global breakdown in trust, which took root after the 2008 financial crisis when Bitcoin's whitepaper appeared. Novogratz noted that while he still considers Bitcoin a favorite, other cryptocurrencies succeed because their communities care just as deeply. He pointed to Cardano's $8 billion market cap and how anyone would receive sharp criticisms for attacking the project . Notably, he credited Ripple CEO Brad Garlinghouse with building a strong following, though Garlinghouse himself has admitted he's not entirely sure where the XRP Army originally came from. Moreover, Novogratz acknowledged attorney John Deaton for his role during Ripple's battle with the SEC. Deaton, who had no early ties to Ripple, fought for XRP holders in court and posted online almost constantly during the case. Novogratz said that level of dedication is what makes communities like XRP's so powerful. Community is Essential for Survival He argued that crypto has brought the idea of community into investing in a way traditional stocks never have. Novogratz compared XRP supporters to the loyal fanbases of Tesla or Palantir, noting that no one talks about being in an "Oracle Army" despite Oracle's massive success.  He believes the rise of crypto communities links to people losing trust in traditional systems, and that loyalty like this can't be manufactured by companies alone. Novogratz admitted that not every token will last as long as Bitcoin, but said the endurance of many has in the past surprised him. He pointed out that XRP remains one of the top tokens by market value, with supporters choosing to put their hard-earned money into something they believe in, whether they're salespeople, engineers, or chefs. Speaking further, he also advised Bitcoin advocates to keep their message focused on Bitcoin being digital gold and protection against the decline of fiat currency. To him, Bitcoin doesn't need to be marketed as anything else, and other blockchains like Ethereum or Celestia can tell their own stories. Novogratz's Growing Stance on XRP and the XRP Army These remarks show just how far Novogratz has shifted on XRP. In a podcast two years ago, he shared that he doubted XRP's staying power and questioned Ripple's control of about 60% of the supply. The billionaire admitted he was completely wrong, acknowledging the XRP Army's commitment had proved him mistaken. Earlier this year, after XRP's surge following Donald Trump's 2024 election win, Novogratz again conceded that he was wrong in his skepticism. He also said the strength of the XRP community is what has kept XRP relevant in its over a decade of existence.