Mike Novogratz considers Cardano a ‘mystery,’ slams the currency.
TL;DR Breakdown Mike Novogratz, one of the most successful and well-known hedge fund managers, has spoken against Cardano. The hedge fund manager has maintained a negative stance on Cardano for a long time and stated that he considers it...
TL;DR Breakdown
- Mike Novogratz, one of the most successful and well-known hedge fund managers, has spoken against Cardano.
- The hedge fund manager has maintained a negative stance on Cardano for a long time and stated that he considers it a ‘mystery.’
- After Mike Novogratz tweeted this, people on Twitter asked the manager to search on the reason why the crypto has risen to 3rd position.
The rise of cryptocurrencies from the bearish trend was nothing short of spectacular. As Solana reached its all-time high today, Luna followed it. Another spectacular growth was experienced by Cardano that captured the third position in the crypto ranking.
The rise of Cardano brought attention to many crypto investors and enthusiasts. Mike Novogratz replied to a tweet by a cryptocurrency enthusiast wherein he asked the reason for Cardano’s rise to the third rank. In the reply, he called the 3rd biggest cryptocurrency a ‘mystery.’
Mike Novogratz received a bold response
Plenty of Cardano supporters came out to relay their thoughts on this statement by the hedge fund manager. The statements by Mike on Cardano have made him popular, and he has continued to reply to other users condemning his lack of knowledge of Cardano.
“You had two options, Mike; open a bunch of tabs and research, or simply visit a farm. You chose none(unsurprisingly).”
a Twitter user said.Mike replied with a tweet which read:
Not true. I spoke to twenty of the smartest people I know in the space, and zero of them saw cardano having traction with devs.
— Mike Novogratz (@novogratz) August 15, 2021This is not the first time Mike Novogratz has publicly made such a bold statement regarding cryptocurrency. Back in the month of June, the fund manager was the one to call Cardano a ‘weird cult,’ and his statement attracted a lot of hate from the Cardano community.
He has become rather famous because of his bold remarks on the growth and adoption of the third-largest cryptocurrency and Bitcoin as well, which he calls a ‘funny internet currency.’
Here I can fix this statement for you Mike: "I've spoken to twenty of the smartest bankers I know in the space, and zero of them saw cryptocurrencies having any traction" 🙂 we all heard that one
Let's come back to his tweet every year. We'll call August 15th, Mike check-in day https://t.co/sax18Fe7XX
The tweets against cryptocurrencies by Mike Novogratz brought the attention of Charles Hoskinson, who asked the fund manager to wait and review this Tweet every year.
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