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“Almost irresponsible” not to invest in bitcoin: Mike Novogratz

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Billionaire Mike Novogratz, founder and CEO of Galaxy Digital Capital Managment, says that every investor should have 1 to 2 percent of the cryptocurrency from its overall portfolio. In an interview with CNN Novogratz stressed that if you do not take this step, it will be “almost irresponsible”.

On Wednesday, Novogratz’s and Bloomberg launched an index called Bloomberg Galaxy Crypto Index, which tracks ten cryptocurrencies, including bitcoin and ether.

“Investing in cryptocurrency is important not because of expected results, and due to the fact that within two to four years, the Blockchain technology will challenge more outdated competitors,” said Novogratz. In addition, the billionaire claimed that he invested ten percent of his net profit in cryptocurrencies.

Meanwhile, major financial institutions are looking for ways to enable traditional investors to benefit from bitcoin. Nasdaq in April signed an agreement with the cryptocurrency exchange Gemini Trust.

Novogratz predicted that the new York stock exchange will actively trade cryptocurrency in less than half a year. However, not all analysts on wall street agree with Mike. Warren Buffett called bitcoin “rat poison” at Berkshire Hathaway’s annual shareholder meeting.

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