| operations |
| comment | | "parent_author":"",<br>"parent_permlink":"bitcoin",<br>"author":"mrhata",<br>"permlink":"almost-irresponsible-to-not-invest-in-bitcoin-billionaire-mike-novogratz",<br>"title":"Almost Irresponsible\u2019 to Not Invest in Bitcoin: Billionaire Mike Novogratz",<br>"body":"Billionaire bitcoin bull Michael Novogratz,<br> founder and CEO of Galaxy Digital Capital Management,<br> says every investor should have 1% to 2% of their portfolio in cryptocurrency. Not to do so,<br> he told CNN,<br> is \u201calmost irresponsible.\u201d\n![Mike-Novogratz-Hudson-River-Park-760x400.jpg (https:\/\/steemitimages.com\/DQmYmhL9xgPgJhBbpAuy1bfkppGGWzHaY8Cab2YdAcMABhE\/Mike-Novogratz-Hudson-River-Park-760x400.jpg)\n\nCrypto To Disrupt Every Vertical\nOn Wednesday,<br> Novogratz\u2019s firm and Bloomberg launched the Bloomberg Galaxy Crypto Index,<br> an index that tracks 10 cryptocurrencies,<br> including bitcoin and Ethereum.\n\nInvesting in cryptocurrency is important not on account of expected gains,<br> Novogratz said,<br> but because in two to four years blockchain technology,<br> which allows companies to make and record near instant transactions,<br> will be challenging every vertical.\n\nWhile the decentralized version of Uber may not be Uber,<br> it will be a challenge and it constitutes a \u201creal value proposition,<br>\u201d he said.\n\nNovogratz,<br> a former hedge fund manager at Fortress Investment Group and Goldman Sachs partner,<br> said he has invested 10% of his net worth in cryptocurrencies.\n\nMainstream financial institutions,<br> meanwhile,<br> are finding ways to allow traditional investors to benefit from bitcoin. Nasdaq in April signed an agreement with Gemini Trust,<br> a cryptocurrency exchange.\n\nOne unknown,<br> however,<br> is how governments will regulate cryptocurrency.\n\nNovogratz predicted the New York Stock Exchange will be active in cryptocurrency trading in less than six months.\n\nNot everyone on Wall Street agrees with Novogratz. Warren Buffett,<br> an investment icon,<br> has been bearish on bitcoin,<br> having most recently called bitcoin \u201cprobably rat poison squared\u201d at Berkshire Hathaway \u2019s annual shareholder meeting on Saturday.\n\nNovogratz said the difference in opinion is age-related,<br> with older players much more skeptical about cryptocurrency.\n\nGalaxy Digital Moves Forward\nGalaxy Digital,<br> meanwhile,<br> has announced plans to buy Canadian startup First Coin Capital and then merge with Bradmer Pharmaceuticals \u2014 which is publicly listed on the Toronto-based TSX Venture Exchange (TSX-V) \u2014 through a reverse takeover.\n\nFollowing the merger,<br> Bradmer will be renamed to Galaxy Digital,<br> allowing the company to trade publicly without having to undergo traditional financial disclosures associated with listing on an exchange.\n\nGalaxy Digital\u2019s cryptocurrency merchant bank \u2014 which Novogratz reportedly hopes to make the \u201cGoldman Sachs of Crypto\u201d \u2014 will have a fourfold business model,<br> according to public statements made by the firm.\n\nThe bank will open a cryptocurrency trading desk and initially seek to capitalize on opportunities for cross-exchange arbitrage. It will also invest in blockchain startups and ICOs,<br> much as Novogratz intended to do through his now-shelved cryptocurrency hedge fund. Finally,<br> it will provide advisory and asset management services to wealthy clients.\n\nFeatured image from Flickr\/Hudson River Park\n\nFrom ccn.com",<br>"json_metadata":" \"tags\":[\"bitcoin\" ,<br>\"image\":[\"https:\/\/steemitimages.com\/DQmYmhL9xgPgJhBbpAuy1bfkppGGWzHaY8Cab2YdAcMABhE\/Mike-Novogratz-Hudson-River-Park-760x400.jpg\" ,<br>\"app\":\"steemit\/0.1\",<br>\"format\":\"markdown\" " |
|