Galaxy Digital founder Mike Novogratz advised in an interview the channel to remove Litecoin from the cryptocurrency rates panel and came under criticism from the community.
Speaking with host Joe Kernen, the billionaire shared his optimistic expectations regarding cryptocurrency adoption. Galaxy Digital CEO was enthusiastic about the medium-term outlook for the Web 3.0 industry amid an influx of institutional capital.
During the conversation, Novogratz drew attention to the cryptocurrency quotes board broadcast during the conversation. He was surprised by the presence in the top 5 assets of Litecoin (LTC), which he described as similar to 2017.
In his opinion, in 2021, Litecoin is not a technology that people are interested in using in their applications.
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He named Terra (LUNA) and Solana (SOL) candidates for replacement. These next-generation smart contract platforms are generating obvious interest from developers and enthusiasts, Novogratz noted.
“So Mike Novogratz comes to CNBC and has enough power to get them removed from the Litecoin list after ten years of no downtime, with major developments like optional privacy, NFT, smart contracts in favor of a coin that hasn't passed any tests. Strange,” wrote Litecoin Magazine. Users were reminded that the Solana network suffered two major outages in 2021.
“Ask Novogratz what could happen: potential risks for investors, as well as for many projects like NFT that relied on the network for functions, transactions, security, etc.?” Said one of Litecoin's proponents.
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Some have suggested that the billionaire is playing his game trying to crash the price of the cryptocurrency. On December 28, the coin rate fell from levels around $ 160 to around $ 150.
In the Litecoin community, Novogratz was compared to the famous Bitcoin critic Peter Schiff and even called for a boycott of the head of Galaxy Digital.