Billionaire hedge fund investor Mike Novogratz, who made it into the Forbes billionaire listing inwards 2008, revealed that he holds 10 percentage of his internet worth inwards Bitcoin as well as Ethereum.
Early holder
Early investors of both Bitcoin as well as Ethereum are respected inwards the cryptocurrency community because they hardly sell their savings inwards Bitcoin despite extreme volatility as well as fluctuation at times. In 2013 for instance, Bitcoin cost remained at 1 of its lowest points for eleven at 1 time months, until it started to surge inwards November.
Since his investment inwards 2013, Bitcoin cost increased from unopen to $50 to $1,270. In fact, it is unopen to reaching its all-time high cost at $1,277, which was established minutes earlier the determination of the USA Securities as well as Exchange Commission to reject the Winklevoss Twins’ Bitcoin ETF proposal.
At the Harvard Business School Club of New York Blockchain conference, Novogratz explained that his determination to invest 10 percentage of his life savings into Bitcoin as well as Ether is the best investment of his life as well as thus far.
ICO purchase
Novogratz likewise purchased Ethereum’s Ether during its ICO, when the token was worth unopen to $1. Currently, Ethereum is trading at $49, which translates to a 49x supply for Novogratz. At the event, Novogratz explained that a coming together alongside Ethereum founder Vitalik Buterin as well as a prominent CEO allowed him to empathize the truthful potential of Ethereum as well as its applicability across diverse industries.
As Cointelegraph reported previously, the Ethereum network as well as the Enterprise Ethereum Alliance platform are beingness utilized past times some of the largest multi-billion dollar banks as well as corporations unopen to the world, including the $92 bln theatre BHP Billiton.
Novogratz sees a vivid time to come inwards the evolution of Ethereum as well as its evolution every bit a smart contract-based Blockchain platform for large-scale commercial businesses as well as corporations.
More successful multi-billion dollar investors inwards crypto
Tim Draper, the multi-billionaire angel investor of prominent companies including Uber as well as Skype, has likewise experienced a huge success inwards his Bitcoin investment. So far, his investment inwards Bitcoin lone earned Draper over $16 mln inwards profit. Apart from his guide investment inwards Bitcoin, he is a major investor inwards regional Bitcoin exchanges such every bit Coinplug as well as Blockchain startups such every bit Factom.
One mutual link betwixt successful investors similar Draper as well as Novogratz is their theatre belief inwards the long-term success of Bitcoin as well as other cryptocurrencies such every bit Ethereum. Novogratz, inwards particular, held onto his savings inwards Bitcoin throughout highly volatile periods when Bitcoin cost declined past times upwardly to thirty percentage inwards a menses of weeks.
However, Novogratz noted that the crypto infinite volition probable bring a bubble that would survive exploited inwards the well-nigh future. Cryptocurrencies or altcoins without clear scalability plans as well as long-term roadmaps are probable to fail.