Digital Assets Could Be The End Of JP Morgan’s Reign

Digital Assets Could Be The End Of JP Morgan’s Reign

Galaxy Digital’s CEO Mike Novogratz has unveiled a list of four digital assets possessing all it takes to replace the pair of JP Morgan and the New York Stock Exchange. In an online discussion with famous rapper Lil Yacht who has recently shown his desire to invest in the crypto business, Novogratz suggested names of four assets that could take in the world’s financial industry by surprise in the space of five years.

Bitcoin tops the list of four cryptocurrencies to watch out for by 2026

As expected, the world’s largest digital asset, Bitcoin, occupies the first spot, following its popularity worldwide. The bull has been a force to reckon with in the last five years, and Novogratz believes it possesses the financial strength and value to disrupt the use of fiat currency in the next five years.

Novogratz’s comments on Bitcoin’s ability to become one of the most spent currencies in the world was equally backed up by Binance’s stats published on Sunday when it claimed that over 65% of crypto enthusiasts possess the digital coins in their respective wallets. Hence, Bitcoin will play a huge role in determining if cryptocurrencies will be generally accepted as a means of transaction in every part of the world.

Ethereum comes second in Novogratz’s list, although he claimed the asset still has a long way to go. According to him, Ethereum has been experiencing a great fortune since the start of the year. It reached an all-time high a few weeks ago, and Novogratz opined it wouldn’t be bad investing in it. Galaxy Digital’s CEO placed the whole Defi group, also known as the decentralized finance, at the third spot.

The Defi was arguably the most improved part of the crypto space in 2020, reaching over $40 billion market value in December. Defi tokens like Aave (AAVE), Chainlink (LINK), Compound (COMP), Yearn Finance (YFI), and Uniswap (UNI) are all tipped to replace the New York Stock Exchange within the next five years.

DOGE also makes Novogratz’s list of top digital assets

Despite its risky nature, Novogratz believes the Defi Tokens should be included in the category of cryptocurrencies that can halt JP Morgan and other fiat exchange platform’ existence. Dogecoin deservedly occupies the fourth position due to its recent 528% pumping price 24 hours on the 28th of January.

The record-breaking experience caught many retail traders’ attention because they stand a great chance of making enormous profits. Though the “meme coin” is known for its short-term trading prowess, Novogratz believes it is one asset that all crypto investors and traders must closely watch.

He equally advised Dogecoin investors should avoid holding the coins for too long due to their short-term value. He said: “buy when the price goes down, and trade it as soon as the price skyrocket.” Speaking of cryptocurrencies and their respective prices at lunchtime, Ethereum is still very much in its bullish run after recording at least a 6% increase in price in the last 24 hours. It currently stays at $1,420 at the time of this publication. Bitcoin continues its stunted growth, recording just a 2% increase in price to remain $34,836 per unit. Others include XRP ($0.39), Tether ($1.00), and Polkadot ($16.90).