Meme Coins: The Bedrock of Crypto?

IconCryptoNewsTerminal Staff13 Jun, 2024

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Meme Coins: The Bedrock of Crypto?

Mike Novogratz, CEO of crypto-focused financial services firm Galaxy Digital, recently said, "A lot of people still think of meme coins as a dumb casino chip, I personally think that they're the bedrock of crypto." He further explained that "People are making fortunes in meme coins and there are two ways to do this. One is to find meme coins with a funny sense of humor, trade them, people will buy it for the memes and because it's funny. My son-in-law is a meme coin investor, by the way. The other is to create the meme coin yourself. Some people would argue that this is just a fad and that as soon as people lose money in meme coins, they'll just leave. But memes have been around forever and the desire to get rich quick has been around forever."

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