The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Race to Launch Bitcoin and Crypto Services Will Now Spread Through Banking Industry, Says Galaxy Digital’s Mike Novogratz

by Daily Hodl Staff
October 22, 2020
in Altcoins, Bitcoin

Ex-hedge fund manager and chief executive officer of Galaxy Digital, Mike Novogratz, says news of PayPal’s crypto adoption will inspire all banks to cater to Bitcoin and crypto.

On Wednesday, payment services app PayPal announced it will soon allow users to purchase, sell, and store cryptocurrency on its platform, starting with Bitcoin, Bitcoin Cash, Litecoin and Ethereum.

Novogratz says he expects the announcement to trigger a chain reaction that forces banks to face crypto’s huge potential.

“This PayPal news is the biggest news of the year in crypto. All banks will now be on a race to service crypto. We have crossed the rubicon people. Exciting day.”

Novogratz has been foreshadowing Bitcoin bank adoption prior to the PayPal announcement. Earlier this month, Novogratz spoke with journalist and Defiance podcast host Peter McCormack about the factors that have led to his increased belief in Bitcoin and the next steps toward a more universal adoption of the asset.

“[Bitcoin’s] now gone through the great crash of 2018 and reemerged from that crash. And I think we had a huge inflection this March/April with COVID, in that COVID gives such a strong macro backdrop to the hard asset story and to the Bitcoin story in particular. And we went over the rubicon or we went over the hill in terms of it being an established asset…

[BTC is] now a legitimate macro asset. Two years ago it was in what I call the ‘venture sandbox’… When you’re thinking about mom and pops, when you’re thinking about institutions that have a fiduciary responsibility they need a lot of surety to get there and Bitcoin’s made it…

I always tell people Bitcoin’s price would be a ton higher if it was easy to buy… You can’t call Goldman Sachs or Morgan Stanley or JP Morgan or E*Trade or get on the phone with your broker and say ‘buy me some Bitcoin’ and ironically we’re pushing those guys to get involved…

We’re starting to see that shift quickly. So I think in one, two, three years you’ll see all those guys getting involved… it’s really customer demand that will drive their action.”

The Office for the Comptroller of the Currency (OCC), a top US banking regulator, recently said banks have the green light to offer crypto custody services to their customers.

So far, traditional banks have not jumped on board. However, a number of banks have answered a request for comment from the OCC, including PNC Bank, which has praised the OCC’s approach as a positive development for the banking industry at large.

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Drop of Light

Submit a Press Release

Industry Announcements

  • MultiBank Group to List MBG Token on Gate.io and MEXC During Official Token Generation Event
    July 18, 2025
  • GSR Leads $100M Private Placement into Nasdaq-listed MEI Pharma to Launch First Institutional Litecoin Treasury Strategy Alongside Charlie Lee
    July 18, 2025
  • KuCoin Launches xStocks, Delivering a One-Stop Access Point to Top Global Tokenized Equities
    July 18, 2025
  • PlayW3 Unleashes ‘Be the Boss,’ a New On-Chain Business Model That Turns Creators Into Owners – Over $320,000 Already Paid Out
    July 17, 2025
  • Streamex (BSGM) CEO Henry McPhie Highlights BSGM Merger and RWA Tokenization Strategy in Live TV Interview
    July 17, 2025
  • Numerai Announces $1 Million Strategic Buyback of NMR
    July 17, 2025
  • Bit Origin Secures $500 Million Equity and Debt Facilities To Launch Dogecoin Treasury
    July 17, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$117,841.57
$117,841.57
0.6%
Ethereum
$3,581.70
$3,581.70
5.41%
BNB
$744.03
$744.03
3.91%
Solana
$178.43
$178.43
3.37%
XRP
$3.43
$3.43
5.26%

Spotlight

  • Bitcoin Primed for the Next Major Parabolic Advance, Says Crypto Analyst Kevin Svenson – Here Are His Targets
    July 11, 2025
  • Trader Outlines Catalysts That Could Trigger 350% Bitcoin Rally, Updates Outlook on Ethereum and Avalanche
    July 11, 2025
  • ‘This Could Very Well Be the Ultimate Bull Trap’ – Trader Issues Urgent Crypto Warning As Bitcoin Blasts Past $118,000
    July 11, 2025
  • Banks With One ‘Deficient’ Rating Could Still Be Considered ‘Well Managed’ Under New Federal Reserve Proposal
    July 11, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl