Billionaire Invests 10% Net Worth into Bitcoin & Ether

By Lutpin Apr 27, 2017 7:27 PM EDT

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Mike Novogratz is a billionaire best know for his hedge fund investments. Recently, he made a statement that has invested his money in digital currencies, being Ether and Bitcoin. This statement became extremely popular among investors as well as digital currency enthusiasts.

Mike Novogratz made this statement while he was attending a forum organized by the Harvard Business School Club. It was held last Wednesday in New York. Afterwards, he did not give out a clear understanding on how wealthy he exactly is. However, it’s speculated that he owns several billion dollar. That’s mainly because Mike Novogratz has previously worked as a hedge fund manager at the Fortress Investment Group. Moreover, Mike Novogratz is also a Goldman Partner. This helped him to get on the Forbes billionaire list back in 2008. Mike Novogratz has stated that it is the best investment that he has ever done in his life.

What tempted Mike Novogratz to invest in cryptocurrency?

Mike Novogratz has invested his money mainly in Bitcoin and Ether. He saw the potential associated with these two currencies. That’s the main reason why he went ahead and invested his money in the digital currency.

If you take a look at the history of Bitcoin, you can see that it was just $500 one year back. However, the price has significantly increased throughout the past few months. Recently, Bitcoin hit a record breaking value of $1,300. In other words, the value of Bitcoin surpassed the value of Gold. It was not just in 2016 where Mike Novogratz saw that Bitcoin would develop into such a state and experience a significant financial boost. He already realized the potential associated with Bitcoin back in 2013. Most of us were not even aware of cryptocurrencies back in that time. However, Mike Novogratz was eagerly

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