‘Almost Irresponsible’ to Not Invest in Bitcoin: Billionaire Mike Novogratz

May 13, 2018

 

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.” 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.

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