Lucas Jackson/Reuters
- As chaos rips through the banking sector, Mike Novogratz said the case for crypto is more prominent now.
- Banks have been sitting on an "orgy of debt," the Galaxy CEO said, leaving customers exposed.
- Novogratz added that the government can "debase fiat currency," but cannot do the same to bitcoin.
Galaxy Digital CEO Mike Novogratz said the bull case for cryptocurrencies is even more prominent now as turmoil in the banking sector continues to unfold.
The slew of bank failures within the past month has highlighted weaknesses in the traditional monetary system and bitcoin's ability to eliminate many of its financial woes, he said at the FII Priority summit.
"In a lot of ways, this is crypto's moment," Novogratz said.