Mike Novogratz: "I am more and more bullish" on Bitcoin and crypto

18 Apr, 2019
by Richard Allen
Mike Novogratz: I am more and more bullish on Bitcoin and crypto

Mike Novogratz, billionaire founder of Galaxy Digital has stated that over the last few months, he’s become more and more bullish on Bitcoin and cryptocurrencies, CCN reports.

“I am more and more bullish BTC and our whole space,” he said despite Bitcoin’s price down 74% from its all-time high.

Novogratz’s comments come at a time when the crypto industry is beginning to show signs of maturity. Binance, for example, has ramped up its efforts to prevent money laundering with its new partnership with CipherTrace. Additionally, Gemini has obtained insurance from Aon to better protect user funds.

Its efforts like these that have led to an increase in institutional involvement.

Chepicap reported earlier this week that Global Custodian and The Trade Crypto in partnership with BitGo surveyed 150 endowments, revealing that 94% had been allocating into cryptocurrencies throughout the course of 2018.

Jonathan Watkins, managing editor of Global Custodian and The Trade stated:

“It’s fascinating to see that despite the widely-publicised concerns around regulation, custody and liquidity, endowments have been factoring crypto-related investments into their allocations, and very few are showing intentions of stepping away. All the talk over the past 18 months has been around when institutional investors will begin participating in cryptocurrency investments, but it turns out they had already arrived, in the form of endowment funds.”

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Read more about: Michael Novogratz


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