Billionaire investor Mike Novogratz is betting big on digital currencies like Bitcoin and Ether.
"Ten percent of my net worth is in this space," Novogratz said at a forum held at the Harvard Business School Club of New York Wednesday. He declined to say exactly how wealthy he is, but he's a former hedge fund manager at Fortress Investment Group and a Goldman Sachs partner who made the Forbes billionaire list in 2008.
It's the "best investment of my life," Novogratz said.
Bitcoin was worth under $500 a year ago. Today the digital currency trades at over $1,200. Back in 2013, Novogratz predicted Bitcoin's value would soar. He remembers people laughing at him at the time.
Since then, Bitcoin's price has been on a wild run. It surged to nearly $1,000 in late 2013 and then fell to under $250 in 2015. It started to fly again last year, around the time of the Brexit vote. It surpassed $1,000 in January of this year again and has kept climbing.
Now Novogratz is saying Bitcoin will go to $2,000.
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We need to introduce him to Steemit