Michael Novogratz

Michael Novogratz

Bitcoin and the cryptocurrency industry have come a very long way in its development, and 2017 is what of the year when Bitcoin attained maturity. Despite facing very critical moments at certain times during the year, Bitcoin and in conjunction the cryptocurrency industry has bounce back and even surpassed all expectations as it multiplied its value several times over from its prices at the beginning of the year. Big time investors and even countries for the first time are sitting up to take notice, as it is getting clearer by the day that this is no longer a fringe idea that is about to fizzle out anytime soon.

In an effort to even drive Bitcoin and the rest of the cryptocurrency world deeper into the psyche of mainstream life, former Hedge Fund manager Michael Novogratz aims to be among the first to ever introduce Bitcoin to big time institutional investment. The former head of Fortress Investment Group with the help of family and friends aims to use his vast trading experience and investment skills as a Hedge Fund manager to create the biggest cryptocurrency Hedge Fund with a war chest of $500 million at its disposal.

Novogratz who is staking up to $150 million of his own money aims to raise the rest of the $350 million by January in what will be another milestone for the cryptocurrency industry which has seen more and more acceptance from mainstream companies. This is in stark contrast with the suspicion and sometime derision it was viewed with a few years ago, when Bitcoin especially was seen as a currency for buying drugs on the less than kosher dark web markets such as the famous Silk Road.

Bitcoin and the rest of the industry already has huge tech companies such as Microsoft, Dell and PayPal to its growing list of businesses where it is accepted as a means of payment, and this foray led by Michael Novogratz will only cement its place and drive it further in the public psyche. Despite some prominent investment bankers such as JPMorgan CE Jamie Dimon labeling Bitcoin as a fraud a few months ago, the cryptocurrency world suffered only a momentary blip as it bounced back in a big way, and as at the time of writing this Bitcoin has surpassed the $10000 mark with a full month to go before the year ends.

Michael Novogratz’s bullish belief in making huge investments in the cryptocurrency world doesn’t come from nothing, as he has previously made what is still his biggest profit making trade ever, earlier this year when he made almost $250 million on the sale of some of his Ether holdings. The new Hedge Fund with interest in the cryptocurrency world will have a broad mandate with focus on buying cryptocurrencies at the right times, buying into ICOs, helping fund startups fund their ventures even before ICOs among other tasks.

Bitcoin makes a lot of the mainstream financial institutions uneasy because of their lack of experience in this industry that is sometimes compared to the Wild West. But with spiraling prices and Bitcoin constantly beating most naysayers doom prophecies, it is expected that the industry will see more mainstream financial investments in the coming year, and Michael Novogratz seems to be the one paving the way.

Mike Novogratz’s Galaxy Digital Unveils Plan for Cryptocurrency Merchant Bank
January 11th, 2018

Billionaire and ex-fund manager Mike Novogratz is going to constitute a cryptocurrency “merchant bank” with the aim to list Galaxy Digital on the TSX Venture Exchange and raise upwards of $200 million.

Bitcoin Price is Going to the Moon as Cryptocurrency Breaks $11,000 Barrier
November 29th, 2017

Bitcoin’s price briefly hit a new record on Wednesday, by breaking$11,000 barrier.

Bitcoin Could ‘Easily’ Hit $40,000 by the End of 2018, Says Bitcoin Investor Michael Novogratz
November 28th, 2017

According to bitcoin investor Michael Novogratz Bitcoin could ‘easily’ hit $40,000 by the end of 2018

Bitcoin Price Breaks $10,000 Barrier for the First Time Ever
November 28th, 2017

Bitcoin price has just reached its historical all-time high by breaking the $10,000 barrier. Now it seems only the sky is the limit.

Bitcoin Price Hits New Record High of $9,700, Could Hit $10,000 Today
November 27th, 2017

Bitcoin now surges past the $9700 mark coming close to its targets of $10,000. The overall crypto markets turn bullish with a total cap of over $300 billion.

‘Bitcoin Will End the Year at $10,000,’ Says Billionaire Investor Mike Novogratz
November 22nd, 2017

Renowned Bitcoin investor and crypto-hedge-fund manager, Mike Novogratz believes that Bitcoin can touch $10000 by the end of this year.

Michael Novogratz and Galaxy Investment Partners Invest into Worldwide Asset eXchange
October 16th, 2017

Michael Novogratz and Galaxy Investment Partners have invested into the huge and under the radar Worldwide Asset eXchange (WAX), which looks to disrupt the $50 billion ‘gaming skins’ market.

‘Bitcoin Price Will Reach $10,000 in Six to Ten Months,’ Says Michael Novogratz
October 11th, 2017

Famous investor predicts that Bitcoin will baloon to $10,000 a piece in the next 6-10 months.

Fortress Former CIO Michael Novogratz Establishes World’s Biggest Crypto Hedge Fund
September 28th, 2017

Famous investor plans to launch $500M Galaxy Digital Asset Fund to become the part of the “largest bubble of our lifetimes”.

University of Sydney Builds New Blockchain Able to Process 400,000 Transactions/Sec
July 5th, 2017

The team of the researchers at the University of Sydney believe the new Blockchain system has a potential for revolutionizing the global economy.

Cryptocurrencies Could Reach $5 Trillion by 2022, Says Billionaire Investor Michael Novogratz
June 30th, 2017

In order to create a strong financial market, strict regulatory base must be implemented within the cryptocurrency environment.