The head of the Galaxy Digital bank said that his investment in cryptocurrency was 85%. That is, his cryptocurrency could potentially be worth $ 5.3 billion. Since his total fortune was estimated at 6.25 billion dollars.
Billionaire Michael Novogratz, famous for storing a tenth of his assets in cryptocurrency, convinced that the digital currency market has enormous potential. The investor compares the cryptocurrency market with the American exchange Nasdaq, which specializes in high-tech stocks.
The investor also expressed the opinion that there is no reason to doubt his hypothesis, since at present huge money and human capital are being invested in the crypto industry.
In addition, Novogratz noted that the digital asset market still at an early stage of development.
At the same time, Michael Novogratz emphasized the need to regulate the cryptocurrency industry, since, in his opinion, this will make it a significant segment of the financial market in the future.
Mike Novogratz’s first cryptocurrency purchase
He bought his first 500,000 ETH for $ 0.99 from Vitalik Buterin. And Novogratz learned about Bitcoin in 2012 from an acquaintance who became interested in the asset and considered that it would grow. The founder of the cryptobank called the purchase of the first Bitcoins for about $ 95 a speculative decision. He also admitted that he was planning to sell Bitcoin for $ 1000 to buy the plane. From this he was dissuaded from partner Pete Brieger.
Now Novogratz calls Bitcoin a profitable and reliable investment. In his opinion, everyone should invest 2-3% of their net capital in the first cryptocurrency.
Galaxy Digital CEO predicts Bitcoin growth
Earlier, Mike Novogratz said in an interview with Bloomberg that the price of bitcoin could rise to $ 100,000 by the end of 2021.
The cryptocurrency is currently trading in the $ 50,800 area, but the chances of a breakout still remain. If we see how the value of Bitcoin reaches new heights, then even more companies and private investors will come to this asset.
According to the CEO of Galaxy Digital, the $ 100,000 mark is far from the limit of BTC’s capabilities.
Novogratz considers Elon Musk to be a genius. For the younger generation, an inventor is a great role model. Accordingly, after Tesla invested $ 1.5 billion in Bitcoin, we should expect a massive entry into the crypto sphere of the so-called millennials.
Earlier, analysts at investment bank RBC Capital Markets called on Apple to follow Tesla’s lead and buy Bitcoin.
Note that the Novogratz crypto company has risen in price against the background of the BTC rally.
However, it is unclear what impact the recent volatility in Bitcoin (BTC) and Ether (ETH) may have had on Novogratz’s assets. The price of many cryptocurrencies suddenly fell when Elon Musk announced that Tesla would suspend support for buying cars in BTC.