Bitcoin Is an Institutional Asset Class: Novogratz

Mike Novogratz discusses the current state of Bitcoin, highlighting its significant rise despite recent declines. He attributes this to a broader market reaction to potential changes in monetary policy. More importantly, he emphasizes the institutional adoption of Bitcoin and crypto, marking a paradigm shift in the financial landscape. Major banks and tech companies are increasingly investing in crypto, driven by the potential of stable coins and cross-border payments. This shift is leading to significant investments and mergers in the crypto space.

What does Mike Novogratz mean by a 'paradigm shift' in the context of Bitcoin?

What are some of the reasons banks are getting involved in crypto?