Billionaire Novogratz definitely adheres to his belief in the bull market by investing 10% of his personal net worth into cryptocurrencies. He is a huge believer in the potential growth of Blockchain technology.
Billionaire bitcoin bull Michael Novogratz, founder and CEO of Galaxy Digital Capital Management, says every investor should have 1% to 2% of their portfolio in cryptocurrency. Not to do so, he told CNN, is “almost irresponsible.”
On Wednesday, Novogratz’s firm and Bloomberg launched the Bloomberg Galaxy Crypto Index, an index that tracks 10 cryptocurrencies, including bitcoin and Ethereum. Investing in cryptocurrency is important not on account of expected gains, Novogratz said, but because in two to four years blockchain technology, which allows companies to make and record near instant transactions, will be challenging every vertical. Novogratz, a former hedge fund manager at Fortress Investment Group and Goldman Sachs partner, said he has invested 10% of his net worth in cryptocurrencies.
https://www.ccn.com/almost-irresponsible-to-not-invest-in-bitcoin-billionaire-mike-novogratz/