Pro-Bitcoin (BTC) billionaire Michael Novogratz has revised his copy when it comes to cryptocurrency investments. He now advises newcomers to dedicate 5% of their portfolios to BTC.
Michael Novogratz particularly „bullish“ on the future of Bitcoin
Michael Novogratz has always stood out for his rather optimistic positions when it comes to Bitcoin Bank and cryptocurrencies . In 2017, it revealed that 20% of its investments were made in BTC and Ether (ETH). And it looks like he has only solidified his position since then. In an interview with CNN , the billionaire revealed that it is now half of his portfolio that is devoted to cryptocurrencies.
To support his remarks, Michael Novogratz recalled that we were now seeing an interest of institutions in Bitcoin, and that this would only intensify according to him:
“We will see all financial institutions forced into this sector. “
Invest more in Bitcoin (BTC)
Michael Novogratz originally advised to invest 1% of his portfolio in Bitcoin and cryptocurrencies. But he revised this estimate upwards, ahead of asset performance :
“I think a new investor could put 5% in Bitcoin. Bitcoin will not go back to zero. It can certainly drop back to $ 14,000 – you could lose 30-40% of your money, but you’ll never lose 80-90% . “
The legendary investor has also confirmed that he believes that Bitcoin is now fully installed in its role of “ digital gold“ .
Is he right ? It seems so, if we are to believe several billionaires, who have recently announced that they have invested in Bitcoin . Last month, we learned that a Mexican billionaire had placed 10% of his cash in Bitcoin . And Ray Dalio also called BTC an “ attractive alternative to gold” .