Galaxy Digital CEO gave the secret of profit in memecoins!

Galaxy Digital CEO Michael Novogratz reiterated his support for memecoins in a post on X, calling it the “cornerstone” of the cryptocurrency industry.

“People are making fortunes from memecoins, and there are two ways to become wealthy in memecoin investing,” Novogratz said in a June 13 video from Business Untitled, noting that these are current trends. Novogratz says the first way is to choose the right memecoin to invest in.

Michael Novogratz surprised with his striking comments on memecoins

Memecoin maximalist Michael Novogratz, addressing his son-in-law, said the following about memecoins:

“Yes, my son-in-law is a great memecoin investor, I didn’t think there was such a thing until I met the guy and he continues to make money, never sells, loves DOGE, loves WIF. You know WIF, when you first see it you can only laugh, but now its value is 3 billion dollars.”

According to Novogratz, the second way to make a profit in memecoins is to create one memecoin.

These developments follow a June 3 report from Galaxy Digital that challenged recent criticism that memecoins are merely an intermittent trend, given that their primary purpose is to create wealth.

“Some believe that the memecoin trend is impermanent. “But as we mentioned before, the desire to make money quickly has always kept memecoins alive,” he said.

However, other names in the crypto industry were not so supportive of memecoins.