Billionaire businessman and cryptocurrency enthusiast Mike Novogratz revealed that Ripple Labs, the company behind the XRP altcoin, has been an investor since day one and has not sold any shares in the past decade.
Mike Novogratz Announces He’s An Early Ripple Investor
In a tweet he later deleted, Novogratz also said that he spoke with Ripple CEO Brad Garlinghouse about the ongoing lawsuit between Ripple and the US Securities and Exchange Commission (SEC) accusing Ripple of selling unregistered securities.
“The only person I remember speaking to about SEC issues was Brad Garlinghouse, who regularly visits this institution,” Novogratz wrote.
Novogratz did not explain why he deleted the tweet, but the tweet could be seen as a sign of support for Ripple and Garlinghouse, who have been battling the SEC’s allegations since December 2020.
Novogratz is known for his bullish views on Bitcoin and other cryptocurrencies and has invested in various crypto-related startups such as Galaxy Digital, BitGo, and Block.one. He also expressed interest in Ethereum and DeFi projects, but was less vocal about XRP.
However, his tweet shows that he has a long-standing stake in Ripple Labs and believes in the company’s vision to create a global payments network using XRP.
*Not investment advice.