U.S. Markets open in 2 hrs 6 mins

Novogratz says most companies take years to prosper, crypto unicorns still on the horizon

Aislinn Keely

Galaxy Digital founder and CEO Mike Novogratz said everyone wants to be the next unicorn, but companies take time to grow, referencing Peloton as an example.

On the next episode of The Scoop, Novogratz said it takes most companies years to reach their potential, meaning much is still to come for the crypto space, which he says only really took off in 2016.

"It takes a long time to grow great businesses, even the home-run unicorns," he said. "We [Galaxy] are not even 18 months old."

Subscribe to The Scoop to listen to the episode when it's published on Tuesday, Sept. 17.