Mike Novogratz, who had ranked as a billionaire by Forbes in 2007 and 2008 has been an investor in Bitcoin for a longer period. He described in an interview which was conducted in CNN before a month, he will not be surprised if Bitcoin reaches $10,000 by April 2018. Bitcoin’s growth in the last month has made him revise his prediction. He is now expecting Bitcoin to cross $10K by the end of this year.
While speaking to Bloomberg TV, Mike Novogratz said:
“I think literally we end the year at $10,000 in Bitcoin. I think that is a decent move from here. I think we end the year at close to $500 in Ethereum.”
While Bitcoin might have stolen the thunder in 2017, Mike trusts that Ethereum could now be poised to make rapid gains:
“Just in the last few days, Ethereum has started to move. I actually think it’s gonna put a new high soon. There are a lot of positive things happening in the Ethereum ecosystem.”
Mike Novogratz, who was a partner in Goldman Sachs and hedge fund manager at Fortress Investment Group, is deeply invested in Bitcoin. He was an early investor in Bitcoin, purchasing Bitcoins for $50 each in 2013. He also invested in Ether at the IPO, picking it up for about thirty cents. He has stated that he has invested 10% of his life savings in Bitcoin and Ether. There has been a huge increase in the prices of Bitcoin and Ether in the past year, which is high. Novogratz is currently planning to raise $ 500 million to set up a hedge fund in the cryptocurrency space.
From strength to strength
Bitcoin has moved from strength to strength, shrugging off the $30 mln hack of tether on Monday. According to Novogratz, while security and safe custody of cryptocurrencies is a concern, the market has not reacted badly since $30 mln is small compared to the overall crypto market cap of $250 bln. In 2017, nothing seems to affect Bitcoin – whether it is Jamie Dimon‘s negativity or China’s crackdown. With the huge momentum behind Bitcoin, it wouldn’t be a surprise if Novogratz is forced to revise his projection once more before 2017 ends.
Bitcoin has moved from strength to strength, Monday Tether $ 30 million shrugging off the hack. According to Novogratz, the safety and security concerns of cryptocurrencies are a concern, but the $ 30 million $ 30 billion does not respond badly to the $ 250 billion overall crypto market. In 2017, nothing affects Bitcoin – whether it’s Jamie Diman’s negativity or China’s crackdown. With bigger momentum behind Bitcoin, it would not be surprising if Novogratz was forced to revise its projection again before 2017 ends.