Crypto’s ‘age of speculation’ is over, says Galaxy CEO Mike Novogratz
CNBC: Bitcoin experiences a sharp decline in 2026, with prices down over 21% and hitting a 16-month low. Mike Novogratz attributes the drop to a loss of trust in the industry.
In 2026, Bitcoin’s value has plummeted, marking a significant decrease from its peak in October 2025. Mike Novogratz of Galaxy explains that the recent downturn is a result of a breakdown in trust within the cryptocurrency industry, rather than a specific event. Despite the current challenges, Novogratz believes that the era of crypto speculation will give way to a more institutionalized approach in the future, focusing on utilizing crypto rails for banking and financial services. The potential passage of the CLARITY Act is seen as a positive catalyst for the industry, with bipartisan support expected for its approval.
