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Former hedge fund manager Mike Novogratz asked new investors to cushion his portfolio with more Bitcoin
Renowned bitcoins investor Mike Novogratz encouraged investors to go after more bitcoins and devote 1k Daily Profit a large part of the portfolio. In his opinion, an average investor needs to have cryptomycins in his investment portfolio.
Novogratz is an investor who currently heads Galaxy Digital, an investment firm in cryptomeda of which he serves as CEO. He is said to have earned about $250 million from investments in cryptomoeda between 2016 and 2017. Novogratz had already asked investors to set aside 1% of its value for cryptomoeda. Last month, he suggested that people inject 3% of their funds into Bitcoin and HODL.
Speaking to Julia Chatterley of CNN, he explained that he has changed his mind and now advises allocating 5% in Bitcoin.
„I think a new investor could put 5% in Bitcoin. Bitcoin will not go back to zero […] It certainly could trade back to $14,000 – you could lose 30-40%, but you are not losing 80-90% of your money,“ he said.
Novogratz recently shared a Twitter post saying, „You will see all the financial institutions forced into this space.
The cryptomoeda investor reported that the advice was based on the recent stability around the main cryptomoeda, as well as historical data. The volatile nature of Bitcoin has often been discussed in exploring the viability of cryptomeda as an investment option. However, Novogratz claims that the volatility around Bitcoin will decrease.
The founder of Galaxy Digital is believed to have a net worth in the $700 million range. Asked about his cryptomoeda allocation, he responded by saying that probably 50% of his portfolio was in cryptomoeda.
Novogratz also asked investors to consider allocating a fraction of their equity in Ethereum. He added that altcoin had „a risk flag. Regarding other altcoins, he said some would be fruitful, while others simply would not survive