Billionaire Mike Novogratz, CEO of Galaxy Digital, revealed that he has 50% of his net worth invested in Bitcoin. Also, it encourages new investors to allocate 5% in Bitcoin.
Indeed, in an interview with the CNN presenter Julia Chatterley, Mike Novogratz indicated that he had changed his mind from the previous advice. In which he suggested to investors to allocate 2% to 3% of their net worth to Bitcoin and other cryptocurrencies. In the same way, it invites to hold until 2025.
Additionally, Novogratz said: «I think a new investor could invest 5% in Bitcoin».
Also, he stated that: “Bitcoin will not go back to zero. It could certainly be worth $ 14,000 again. Therefore, you could lose between 30% and 40%. But, you are not losing 80% or 90% of your money.”.
Furthermore, he added: “You will see all the financial institutions obliged to enter this space”.
In this regard, Mike Novogratz indicated: «EWe are in the early stages of rebuilding the infrastructure. Where American and Global Business Will Be Conducted in the Future».
Mike Novogratz reveals how much he has invested in Bitcoin
In fact, when pressed by Julia Chatterley to put a number on his investments, Novogratz said that: “As a proportion of my net worth, the overall exposure to cryptocurrencies is probably 50%«.
In the same vein, Novogratz has also said that anyone should invest at least part of their net worth in Ethereum (ETH). While stating that the token has “a touch of risk.”
“I think Ethereum still has a more entrepreneurial style. But, it is an investment that we like ”.
Galaxy Digital CEO predictions
In particular, Mike Novogratz, is known for his predictions regarding the price of Bitcoin.
In June, he indicated that Bitcoin could break the coveted 10K mark and soon jump to 20K.
Just in November, he predicted that the price of Bitcoin would go to $ 20,000 and then $ 65,000.
“Bitcoin is eventually going to hit $ 65,000 due to a combination of low supply. And a lot of new buyers. “
As a curious fact, Mike Novogratz, admitted that he could give up Bitcoin if its price does not reach new highs in 2020.
To recall, in a live Yahoo Finance interview, he said that Bitcoin was designed for all investors. Indicating, that everyone should invest in Bitcoin. Specifically, 2% to 3% of your net worth. Then see it in five years, and you will see that it is much more.
Very importantly, Mike Novogratz stated that: “Bitcoin has become a macro asset to guard against the devaluation of the fiat currency both in the United States and abroad”.
To conclude, billionaire Mike Novogratz is encouraging investing in Bitcoin. Do you think like Novogratz? Let us know in the comment box.
I retire with this phrase from Laurence H. Summers: “Most investors want to do today what they should have done yesterday”.