Billionaire Mike Novogratz says he has 10% of his money in Bitcoin and Ether

Hydrogen

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Quote from: Mbokani on May 02, 2017, 07:57:08 PM

No way his revelation could elevate a sudden interest in the volumes ,the recent spike is simply because of the Japanese investors as they are pumping in huge amount of money in bitcoin and so is the reason we are seeing more volumes from the Japanese exchanges than the rest of the world.If Mike has invested in crypto currencies it is good for him. Tongue

Which japanese exchanges would you recommend checking to confirm this?

I would be curious to see what "increased volume on japanese exchanges" looks like.

I don't remember ever seeing a exchange based out of japan. Definitely got to look into this.

aoluain

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Quote from: Sundark on May 03, 2017, 09:15:34 AM

I am more than sure that big fishes from Wall Street, bankers and investors, generally everyone rich and linked to big finance world owns Bitcoin already.
These people know what is going on, bitcoin has proven itself as great investment over years, there is no reason to suddenly think it is the end of the road.
Bitcoin can be purchased anonymously and stored without any 3rd party involved, so no wonder rich businessmen would rather not brag about BTC.
The eventuality that in future negative bitcoin law may introduced is not out of the picture, so it is better to keep quiet about big bitcoin stash you own.

I dont know who Mike Novogratz is and I actually pictured Robert Novogratz Cheesy

anyway I agree, we can all be damned sure there are a lot of wealthy people
around the world who have "investments" in Crypto Currencies and not just
Bitcoin.

They may not have bought into it at the start but certainly in recent years
and especially now that its proven that blockchain technology is not a little bubble
which will eventually pop.

These big time wealthy people rarely if never divulge their technique or where they
invest particularly to us minions.

olushakes

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As a billionaire, he has right to keep his money anywhere he so pleases so like wise myself I can claim to have all my funds in bitcoin and there is no way for any one to confirm because you don't have the facts even the forbes quotation are based on estimates and guesses and not the real value. But its actually a good thing that billionaires are now speaking up because I believe they are the ones that can force the hand of government in the right direction of bitcoin.

Sundark

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I am more than sure that big fishes from Wall Street, bankers and investors, generally everyone rich and linked to big finance world owns Bitcoin already.
These people know what is going on, bitcoin has proven itself as great investment over years, there is no reason to suddenly think it is the end of the road.
Bitcoin can be purchased anonymously and stored without any 3rd party involved, so no wonder rich businessmen would rather not brag about BTC.
The eventuality that in future negative bitcoin law may introduced is not out of the picture, so it is better to keep quiet about big bitcoin stash you own.

Xester

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Quote from: Hydrogen on April 21, 2017, 02:46:19 PM

Quote

Billionaire investor Mike Novogratz is betting big on digital currencies like Bitcoin and Ether.

"Ten percent of my net worth is in this space," Novogratz said at a forum held at the Harvard Business School Club of New York Wednesday. He declined to say exactly how wealthy he is, but he's a former hedge fund manager at Fortress Investment Group and a Goldman Sachs partner who made the Forbes billionaire list in 2008.
It's the "best investment of my life," Novogratz said.

Bitcoin was worth under $500 a year ago. Today the digital currency trades at over $1,200. Back in 2013, Novogratz predicted Bitcoin's value would soar. He remembers people laughing at him at the time.

Since then, Bitcoin's price has been on a wild run. It surged to nearly $1,000 in late 2013 and then fell to under $250 in 2015. It started to fly again last year, around the time of the Brexit vote. It surpassed $1,000 in January of this year again and has kept climbing.
Now Novogratz is saying Bitcoin will go to $2,000.

But he also warned the Harvard Business School Club crowd that there will "likely be a bubble" in digital currencies. The best way to handle it, he argues, is the old Wall Street trick of diversification. Put a little money in a lot of different plays in digital currency.

For example, Novogratz was also an early investor in Ether. It's another digital currency that has quickly emerged as the No. 2 rival to Bitcoin. Novogratz says he bought Ether when it was trading for about $1. Today it's worth over $48.

Novogratz met Vitalik Buterin, the young Russian brainchild behind Ether at a dinner party at a prominent CEO's home. He recalls that Buterin, then 21, showed up late, which struck him as shocking -- and a bit ballsy. He figured it was worth paying attention to Buterin.

Ether is a currency with a "smart contract" function that gives users additional security and abilities to transfer information in addition to monetary value.
We're witnessing the "3rd inning" of this digital asset revolution, Novogratz predicts. He's not exactly sure how it will play out, but he plans to continue investing in digital currencies and Blockchain, the revolutionary technology behind the scenes that makes Bitcoin work.

Blockchain is literally a digital ledger to record and track transactions. What makes it so technologically advanced is that multiple companies or parties can access the Blockchain and see the history of what happened to an asset.

Novogratz has emerged as one of the biggest Wall Street cheerleaders of Blockchain, but his bets haven't always gone so well. He exited Fortress in 2015 after the company shut down his Marco Fund for poor performance. It lost around 20% in its final year after his investments in emerging markets, especially Brazil, tanked.

"We have had an extremely challenging two years, and I do not believe the current environment is conducive to achieving our best results," Novogratz said at the time.

http://money.cnn.com/2017/04/20/investing/mike-novogratz-bets-big-on-bitcoin-ether-blockchain/index.html

That's one confirmed billionaire betting big on crypto.

I wonder how many others there are who aren't publicly invested yet have a lot riding on btc.

Novogratz is not just a billionaire or a man with a huge stash of money but he is also owns an investment firm or group and thus it is easy for him to declare that he had invested in cryptocurrency namely bitcoin and ethereum. But others will most likely wanted to stay hidden and does not want to announce to the world that they own huge amount of bitcoin for their protection.

Ashton69

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stompix

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Blackjack.fun

Quote from: Mbokani on May 02, 2017, 07:57:08 PM

Quote from: Hydrogen on May 02, 2017, 07:39:31 PM

I wonder if Mike Novogratz publicly disclosing his crypto investments is behind the recent btc all time high. Maybe people have more confidence in bitcoin knowing there are big time investors committing to it? Looks like bitcoin could be on its way up @ $1,400. Nice!

No way his revelation could elevate a sudden interest in the volumes ,the recent spike is simply because of the Japanese investors as they are pumping in huge amount of money in bitcoin and so is the reason we are seeing more volumes from the Japanese exchanges than the rest of the world.If Mike has invested in crypto currencies it is good for him. Tongue

Source for this claim about the "japanese investors" ?
Please don't start with stories like the last major rise which was caused by people in Cyprus buying bitcoins.
We all know how these stories are always inflated and contain less than 00.1% ~~sugar~~ facts

DoublerHunter

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Quote from: shamzblueworld on May 03, 2017, 12:50:47 AM

Only 10%? I think with his money, he could afford risking more, maybe 50%. He should know that the more he invests into bitcoin, the more chances he will have of doubling that.
And secondly he maybe the only one to go public about it, I think there will be many many more, if not billionaires then surely the business people and tech guys and and people who have actually hired people to invest in crypto currencies, I'm surely there are many like that.

He is a smart person and a smart person doesn't want a lot of risks in investment, the 10% would be enough for him to get a lot of bitcoins because take note, that he is a billionaire and that is a lot of money to put in bitcoin so if he is keep holding his bitcoin then he already made a lot of profit without doing anything but just loving bitcoin.

shamzblueworld

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Only 10%? I think with his money, he could afford risking more, maybe 50%. He should know that the more he invests into bitcoin, the more chances he will have of doubling that.
And secondly he maybe the only one to go public about it, I think there will be many many more, if not billionaires then surely the business people and tech guys and and people who have actually hired people to invest in crypto currencies, I'm surely there are many like that.

tleilaxu_eyes

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Vitalik showed up late to meet a billlionaire, that's just too good. . . But just a small point, he claims he has 10% in the crypto "space", which means it's not all in coins most likely.

Mbokani

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Quote from: Hydrogen on May 02, 2017, 07:39:31 PM

I wonder if Mike Novogratz publicly disclosing his crypto investments is behind the recent btc all time high. Maybe people have more confidence in bitcoin knowing there are big time investors committing to it? Looks like bitcoin could be on its way up @ $1,400. Nice!

No way his revelation could elevate a sudden interest in the volumes ,the recent spike is simply because of the Japanese investors as they are pumping in huge amount of money in bitcoin and so is the reason we are seeing more volumes from the Japanese exchanges than the rest of the world.If Mike has invested in crypto currencies it is good for him. Tongue

Hydrogen

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I wonder if Mike Novogratz publicly disclosing his crypto investments is behind the recent btc all time high. Maybe people have more confidence in bitcoin knowing there are big time investors committing to it? Looks like bitcoin could be on its way up @ $1,400. Nice!

bartolo

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Quote from: btccashacc on April 25, 2017, 03:18:52 AM

Quote from: btcdevil on April 21, 2017, 03:12:09 PM

If i am not wrong their are so many rich peoples who have invested in Bitcoin and other altcoins seeing their potential but due to government issues they cannot disclose it openly.

In this comment it is also given a hint that which ever investment this rich guy has done have gone in loss so it may also be that as he has entered in the bitcoin and ETH market so we can see some selling pressure and down grade of the price of both coins

I'm really scared if these people have invested on bitcoin or another coin like etherum, we all know that with their money they can dump or pump those coins anytime they want, it's gonna make a deep gap if they "the richest people" sell their coins or the good thing is the price would be sky rocket if they pumped those coins, like someone assuming above about Mike's assets, holding 33k bitcoins and 200K etherums well all i can say they have ultimate control over those coins.

The danger that rich people invest in bitcoin may be that, when they want money to make a profit soon or to invest in something else, they can negatively influence the price by selling everything at once. However bitcoin is not like the shares of a company, it is difficult for a single person or two to have enough percentage of bitcoin accumulated to influence too much on the price if they sell.

bryant.coleman

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Quote from: BillyBobZorton on April 24, 2017, 07:15:48 PM

Bitcoin alone has a 20+ billion marketcap, I don't see why this couldn't be real, I think he is not frauding, im sure a lot of rich people are taking big positions on bitcoin. Not so sure about putting so much money on ethereum tho. If I was a billionaire I would put 10% on BTC alone.

Why not? During the last 18 months, Bitcoin has given 400% profit for its investors ($250 per coin to $1,250 per coin). On the other hand, Ether has given more than 5,000% returns ($1 per coin in January 2016, to $50 per coin right now). So he may be right about Ether. Who are we to advise him? After all, he managed to multiply his investments by many times in the past.

DoublerHunter

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Quote from: btccashacc on April 25, 2017, 03:18:52 AM

Quote from: btcdevil on April 21, 2017, 03:12:09 PM

If i am not wrong their are so many rich peoples who have invested in Bitcoin and other altcoins seeing their potential but due to government issues they cannot disclose it openly.

In this comment it is also given a hint that which ever investment this rich guy has done have gone in loss so it may also be that as he has entered in the bitcoin and ETH market so we can see some selling pressure and down grade of the price of both coins

I'm really scared if these people have invested on bitcoin or another coin like etherum, we all know that with their money they can dump or pump those coins anytime they want, it's gonna make a deep gap if they "the richest people" sell their coins or the good thing is the price would be sky rocket if they pumped those coins, like someone assuming above about Mike's assets, holding 33k bitcoins and 200K etherums well all i can say they have ultimate control over those coins.

That is the advantage of being rich, if you are rich then you got a lot of money and money means power. They can easily manipulate the market on what they want either they will buy a lot of bitcoin or any coin and pump it or sell their stocks and dump the price. The control of this kind of market are on the hands of rich people, so the only thing we can do is to go with the flow because we can't compete with those people.

btccashacc

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Quote from: btcdevil on April 21, 2017, 03:12:09 PM

If i am not wrong their are so many rich peoples who have invested in Bitcoin and other altcoins seeing their potential but due to government issues they cannot disclose it openly.

In this comment it is also given a hint that which ever investment this rich guy has done have gone in loss so it may also be that as he has entered in the bitcoin and ETH market so we can see some selling pressure and down grade of the price of both coins

I'm really scared if these people have invested on bitcoin or another coin like etherum, we all know that with their money they can dump or pump those coins anytime they want, it's gonna make a deep gap if they "the richest people" sell their coins or the good thing is the price would be sky rocket if they pumped those coins, like someone assuming above about Mike's assets, holding 33k bitcoins and 200K etherums well all i can say they have ultimate control over those coins.

7788bitcoin

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Quote from: randomdude on April 24, 2017, 06:55:56 PM

Quote from: Gleb Gamow on April 21, 2017, 04:23:28 PM

A = Mike Novogratz's net worth at $1B+

$1B+ X .10 = $100M+

B = Current market cap of ALL altcoins = $29.5M+

A > B by a magnitude of? (you do the math)

Q.E.D.

According to coinmarketcap.com, the market cap on Ethereum alone is $4.5B. At the time of writing this, there are 10 altcoins (including bitcoin) with $100M+ market cap each.

My math - let me know if it is wrong:

Today's values:
Bitcoin market cap = $20.3B
Ether market cap = $4.5B

Information from Wikipedia: "By 2012, after the decline of Fortress' stock price, his net worth had shrunk to $500 million".
Mike Novogratz's net worth at $0.5B, therefore 10% will be $50M.

Assuming that he really put 80% in BTC (@$1200) and 20% in ETH ($50), he is holding about 33k BTC and 200k ETH.

Does this make sense?

Clement Kaliyar

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Quote from: DoublerHunter on April 24, 2017, 05:54:55 AM

This is a big news for bitcoin for getting a big investor to this industry and this is also a good example for people out there who are keep doubting bitcoin because of the possible bad things that can happen. Bitcoin is one of the youngest stocks in the market but it is very volatile and the price is almost been tripled since last year and that is why most of the business minded people are keep coming to bitcoin and leaving their doubts and fears behind them.

I am not sure people will be doubting bitcoin and its technology now.The days of high volatile is gone and now a days we see a stable growth and i guess it is simply because there are more people in the bitcoin system than before and it is hard for the kind of manipulations they did in the past.The price of bitcoin has tripled within the past one year and this is the best investment for a long time.

xuan87

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I am sure there are a lot of millionaires is investing in bitcoin, because bitcoin really generate profit for them, only by keep them and sell in the right time they can earn a lot, the rising price is very fast, I am sure the millionaire sees bitcoin as a very valuable asset, if all millionaire is investing in bitcoin then we can rest assured that bitcoin will have a great price in the future

BillyBobZorton

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Bitcoin alone has a 20+ billion marketcap, I don't see why this couldn't be real, I think he is not frauding, im sure a lot of rich people are taking big positions on bitcoin. Not so sure about putting so much money on ethereum tho. If I was a billionaire I would put 10% on BTC alone.

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