Billionaire Novogratz Conference Call: Big Things Coming to #Crypto in 2019, 2020
Bitcoin (BTC), Cryptocurrency–Mike Novogratz, the billionaire investor who has also been one of cryptocurrency’s largest supporters, has suffered with the rest of the market from the falling price of Bitcoin and altcoins. As previously reported by EWN, Novogratz’s crypto investment firm Galaxy Digital has lost in excess of $100 million throughout 2018, as the ongoing bear cycle for the industry extends into the final month of the year.
Novogratz, who has remained bullish on crypto and steadfast over his outlook for the industry, has managed to take it all on the chin. As opposed to sugar coating the most recent market turn, which wiped tens of billions from the market cap in a span of days, the investment head admitted to the present bleak landscape speaking in a conference call on Nov. 30,
“It’s been a horrible bear market in tokens. There’s plenty of reason to be depressed.”
However, Novogratz has reiterated his long term commitment to the growth of both blockchain technologies and tokenized cryptocurrencies, even with the current volatile price situation. While many have heard the refrain of “coming adoption” and “institutional investment,” Novogratz is leveraging his position as the former Fortress Group hedge fund manager and Goldman Sachs partner to provide some assurance that he has a rosy outlook for crypto in the coming years.