Billionaire Bull Novogratz: Big Money is Coming to Bitcoin, Real Soon

The former hedge fund manager of Fortress Investment Group believes that institutional investors will adopt bitcoin in the next six months.

Mike Novogratz, a retired Wall Street macro fund manager, firmly believes that financial companies will start offering bitcoin as an investment option. So much so, that he thinks it will be as simple as ordering over the phone, reports CNBC.

Speaking at the Reuters Global 2018 Investment Outlook Summit in New York, Novogratz, who owns 10 percent of his net worth in bitcoin and ethereum, said:

When it’s that easy, the price of bitcoin or ethereum is going to go much higher. And that is a lot closer than people think.

Novogratz, who is chief executive of Galaxy Investment Partners, a firm that bets on cryptocurrencies, claimed last month that Jamie Dimon, JPMorgan Chase CEO, was a ‘rent-taker‘ and that he’s going to lose the fight against cryptocurrencies.

At the time, Novogratz was speaking out against Dimon’s ‘bitcoin is a fraud’ remark, stating that as a banker Dimon had no choice, but to belittle the digital currency. Yet, despite critics voicing their opinions about the market, the former hedge fund manager’s confidence with the cryptocurrency remains. So much so, that in October he was reported as saying that it would reach $10,000 in six to 10 months, claiming that institutional investors had already begun investing in bitcoin…

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