Altcoin Shift? Firms Look Beyond Bitcoin, Says Galaxy CEO

Altcoin Shift? Crypto Companies Look Beyond Bitcoin, Says Galaxy CEO

Written by Aaron S.,

Editor-In-Chief

Last Updated: September 12, 2025

Key Takeaways

Novogratz stated that Bitcoin’s flat trend is linked to corporate treasuries putting more focus and funds into altcoin projects;
He said a Fed rate cut and regulatory updates, like SEC reforms and Nasdaq’s tokenization push, could revive Bitcoin demand;
While chains like Ethereum and Solana compete, Novogratz noted that no single blockchain is likely to dominate the crypto industry.

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Galaxy Digital CEO Mike Novogratz stated that Bitcoin’s BTC $115,015.35 recent price stability may be linked to an interest in altcoins among corporate investors.

Speaking on CNBC’s Squawk Box on September 11, Novogratz explained that treasury teams within crypto firms have recently shifted attention to other blockchain projects.

He noted that this has likely pulled some market energy away from Bitcoin in the short term.

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He pointed to recent activity involving Galaxy Digital, Jump Crypto, and Multicoin Capital as examples of companies directing funds toward newer tokens.

While Bitcoin has not shown much movement lately, Novogratz noted that it could change later in the year. He mentioned that a potential shift in US interest rate policy could drive another wave of demand for Bitcoin.

Additionally, he referenced SEC Chair Paul Atkins’ remarks about updating securities regulations to support on-chain markets.

Novogratz also mentioned that Nasdaq had submitted a request to the SEC to allow tokenized versions of traditional financial assets, such as stocks and exchange-traded funds (ETFs).

He explained that Bitcoin initially gained attention as a digital store of value, while stablecoins became useful for cross-border payments. However, Novogratz stated that the lack of reliable blockchains, as well as clear regulations, has slowed further adoption.

He added that while different blockchains will continue to compete, it is unlikely that any single network will dominate the industry. Ethereum ETH $4,530.94 , for example, has its own purpose and user base, and while it may compete with platforms like Solana SOL $238.78 , it fills a different role.

On August 25, Tim Draper, co-founder of Draper Associates, shared his views that altcoins play an important role in strengthening Bitcoin. How? Read the full story.