Meme Coins: The Bedrock of Crypto, Even My Son-in-Law Is Invested, Says Galaxy Digital CEO

Meme Coins: The Bedrock of Crypto, Even My Son-in-Law Is Invested, Says Galaxy Digital CEO

Meme coins, often dismissed as a fad or a joke, are gaining a surprising level of support from crypto industry leaders. Mike Novogratz, CEO of Galaxy Digital, recently stated that he believes meme coins are the "bedrock of crypto." Novogratz explained that meme coins, with their often humorous and lighthearted nature, have a unique ability to engage a wider audience. He noted that many people are making fortunes by trading or creating meme coins, and that the appeal of these assets extends beyond traditional financial motivations. "People are making fortunes in meme coins," Novogratz said. "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." Novogratz's comments highlight the growing acceptance of meme coins within the crypto community. While these assets may not always have strong fundamentals or practical use cases, their ability to generate excitement and attract new investors is undeniable. As the crypto market continues to evolve, it remains to be seen whether meme coins will maintain their newfound popularity. However, the support of industry leaders like Novogratz suggests that these assets are here to stay, at least for the foreseeable future.