TagMike Novogratz

Bitcoin Price: You Should Be 'Real Nervous' if BTC Plunges This Far

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mike novogratz bitcoin price analysis

Mike Novogratz maintains that even ordinary investors should invest 2-3 percent of their portfolios into cryptocurrencies. However, he warns that they should get "real nervous" if they observe the bitcoin price slide below a key level. The Galaxy Digital founder and longtime crypto bull told CNBC he doesn't ever expect to see a sub-$5,000 bitcoin again and will grow increasingly fearful if it...

Bitcoin Could Reclaim Its Peak, Hit $20,000 by Year-End: Novogratz

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Some in the crypto community were left wondering if Michael Novogratz was still bullish on bitcoin after he recently took some bitcoin profits and kicked himself for not taking more. Being the astute trader that he is, Novogratz was just looking to buy back in at lower levels, an opportunity that doesn't come around every day. Turns out the Galaxy Digital CEO knew exactly what he was doing, and...

Novogratz on Near-Term BTC Consolidation: 'Trees Don't Grow to the Sky'

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Michael Novogratz

By CCN: Mike Novogratz's expectation for bitcoin price consolidation is starting to look more feasible since BTC abruptly took a dive today. The high-profile trader believes bitcoin is poised for near-term consolidation to a narrow range despite recent market momentum. Novogratz, who is at the helm of crypto merchant bank Galaxy Digital, reportedly held a conference call today discussing his...

'Bitcoin Bernie': Mike Novogratz Calls for Radical Weath Redistribution

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By CCN: These days, billionaire hedge fund titan Mike Novogratz is known more for his rabid Bitcoin pumping than his Wall Street wizardry. However, in a new CNBC interview, he channeled his inner Bernie Sanders to champion another of his passions: wealth redistribution. Novogratz, Bernie, & AOC Find Surprising Common Ground During an appearance on Squawk Box today, Novogratz commented on...

Bitcoin Beats Other Cryptos in 'Smarter' Bull Market, Says Billionaire Investor

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Bitcoin, bitcoin price

By CCN: Mike Novogratz, the billionaire CEO of Galaxy Capital and a former hedge fund manager at Fortress Investment Group, believes alternative cryptocurrencies, or altcoins, will be outperformed by bitcoin in the bull market. Not this time. Market getting smarter. $btc will outperform. — Michael Novogratz (@novogratz) May 19, 2019 The statement of Novogratz comes after the bitcoin price...

$20,000 Bitcoin Price Redux Coming in 2021, Claims Billionaire Crypto Bull

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mike novogratz, bitcoin, bitcoin price

Bitcoin bull and founder of crypto merchant bank Galaxy Digital is of the opinion that the cryptocurrency’s upward trend is only getting started and has much more room ahead. Speaking to CNN during the SALT Conference in Las Vegas, Novogratz said that after crossing the $6,000 level, the next target point will be $10,000. $6,000 probably is a stall point. We take out $6,000 the next one is...

Bitcoin Price Slingshot Will Follow Bitter Struggle Near $6,000: Mike Novogratz

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Bitcoin price, bitcoin

By CCN: After hitting a new 2017-high, bitcoin price could struggle around $6,000 before moving higher, according to Mike Novogratz. The billionaire chief executive officer of Galaxy Investment Partners LLC said bitcoin was the only store of value while the rest of the cryptocurrencies still had to prove their particular use-cases. That gave bitcoin a certain edge over the market which, upon...

Facebook's Secret Cryptocurrency Led by PayPal Alumni Just 'Months Away' from India Launch

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By CCN: Facebook’s much-hyped cryptocurrency project, dubbed Project Libra, may launch in India within a matter of months, according to a Bloomberg report. The secretive blockchain project, led by a team of PayPal alumni, is expected to launch a stablecoin for sending peer-to-peer payments to friends and family as well as integrating with major e-commerce players. Famed investor Mike Novogratz...

Bitcoin Basher Nouriel Roubini Cowers from Novogratz's Crypto Wager

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nouriel roubini mike novogratz bitcoin

Bitcoin perma-bull Mike Novogratz clashed with avowed crypto-hater Nouriel Roubini at the 2019 SALT tech conference in Las Vegas on May 8. During a panel discussion about digital currencies, Roubini once again trashed crypto as a massive "bubble." Meanwhile, Novogratz cooed that bitcoin is a "miracle." 'Crypto is the mother and father of all bubbles' Nouriel Roubini is an economics professor at...

$41 Million Binance Heist Will Trigger Regulators, Warns Billionaire Bitcoin Bull

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Mike Novogratz, Bitcoin, Binance

By CCN.com: Bitcoin bull and the CEO of digital assets merchant bank Galaxy Digital, Michael Novogratz, has warned that the hacking suffered by the world’s largest cryptocurrency exchange Binance could invite more investor scrutiny. In Novogratz’s view, this can only be bad for the industry. Binance Loses 7074 Bitcoins The crypto bull was reacting to Binance’s statement that the attackers had...

Billionaire Remains Bitcoin-Drunk Despite Crypto Firm's Insane $272 Million Loss

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Bitcoin, Mike Novogratz

By CCN.com: According to a Bloomberg report, billionaire investor Mike Novogratz’s Galaxy Digital Holding Ltd. lost more than $272 million in 2018 amidst an intense crypto bear market. From January to December 2018, the valuation of the crypto market dropped from $813 billion to $113 billion by 86 percent as the bitcoin price crashed from its peak at $20,000 to $3,150. Since December, within a...

Bitcoin Price Won't See New Lows - Mike Novogratz is 85% Sure

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Mike Novogratz Bitcoin price

By CCN: As Bitcoin looks to eke out the highest daily close since 2018, crypto market sentiment is getting more and more bullish. Recently, CCN noted that technical analyst Willy Woo believes that there's only a 5% chance the Bitcoin price hits a new low during the current market cycle. In another blockbuster tweet, Woo compiled a list of prominent cryptocurrency influencer opinions on this issue...

This Billionaire Investor is 'More and More Bullish' in Crypto and Bitcoin

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By CCN.com: Michael Novogratz, the billionaire founder of Galaxy Digital formerly of Fortress Investment Group, has said he has become much more bullish in bitcoin and crypto in recent months. “I am more and more bullish BTC and our whole space,” he said despite the bitcoin price being down about 74 percent from its all-time high. Why Investors are More Bullish in Bitcoin Now In many ways, the...

'Glorified Test Net': Billionaire Novogratz Slams Litecoin, Screams 'Buy Bitcoin'

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mike novogratz, bitcoin, bitcoin price

By CCN.com: Crypto trader Mike Novogratz fails to see the value in Litecoin. Novogratz, who is at the helm of crypto merchant bank Galaxy Digital, blasts Litecoin's size and in doing so seems to comes across as threatened by the fifth-biggest cryptocurrency. The Litecoin price has seen its value expand by 40% in April alone, gains that if you ask Novogratz would be better served by bitcoin. The...

Billionaire Bitcoin Bull Novogratz Sees 'Next Move Higher' for Crypto Market

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Mike Novogratz, crypto, bitcoin

The bitcoin price is holding above $4,000, today's fractional declines notwithstanding, and the bullish price predictions are back. Michael Novogratz of crypto merchant bank Galaxy Digital is the latest voice to come out of crypto hibernation and tell it as he sees it. Novogratz is calling the market bottom days after Fundstrat's Thomas Lee issued his latest bullish outlook for the BTC price...

Mike Novogratz-Backed BitGo Offers $100 Million in Crypto Insurance

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BitGo, a crypto custodian backed by Goldman Sachs, is offering up to $100 million in insurance coverage for cold-wallet assets through Lloyd’s. There is no additional cost to BitGo clients. In a press release, the company said the $100 million of insurance coverage protects custodial assets held by BitGo against: Third-party hacks. Insider theft by employees of private keys. Physical loss or...

What High School Chemistry Taught Mike Novogratz about Bitcoin

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Mike Novogratz Bitcoin price

Bitcoin guru Mike Novogratz went where few have gone in expressing his optimism about the cryptocurrency. Beyond merely referring to it as "digital gold," he said that its role in the crypto market is akin to gold's on the periodic table.  Novogratz made that connection on Wednesday on the sidelines of the Milken Institute MENA Summit being held in Abu Dhabi. He discussed some of the reasons...

Institutional Investors are Already Turning to Crypto: Should You Fear Missing Out?

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Two public pensions from Fairfax County, Virginia’s Police Officer’s Retirement System and Employees’ Retirement System, have invested in Morgan Creek’s new $40 million crypto fund. Anthony Pompliano, a Morgan Creek general partner, said that it is the first case in which public pensions have invested in the cryptocurrency market. Apart from the two pensions, the fund is said to be financed by a...

Simply 'Logical' for Every Big Macro Fund to Hold 1% in Bitcoin: US Billionaire Investor

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Bitcoin, Mike Novogratz

In the last 48 hours, the Bitcoin price recovered beyond the crucial $3,500 support level and avoided a further drop below $3,000. The valuation of the cryptocurrency market increased from $110 billion to $120 billion, by just over $10 billion. Following the strong corrective rally of Bitcoin, billionaire investor Mike Novogratz stated that every major macro fund should hold at least 1 percent of...

'Stay the Course': Billionaire Bitcoin Bull Mike Novogratz Has Advice for the Bitter Crypto Winter

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Mike Novogratz — the CEO of cryptocurrency merchant bank Galaxy Digital — admits that the Crypto Winter will probably last longer than he had anticipated. However, the Goldman Sachs alum still believes that institutional investors will eventually enter the market, and remains an avowed bitcoin bull. Mike Novogratz 'Very Confident' of Institutional Entry Novogratz tweeted: "Don’t think we head...

Billionaire Mike Novogratz Raising $250M Should Reassure Crypto Investors, Even in the Bear Market

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By CCN.com: Mike Novogratz, a billionaire venture capital and avid cryptocurrency investor, is reportedly raising $250 million to support crypto businesses. According to a Business Insider exclusive report, sources close to the company have revealed that Galaxy Digital is in the process of securing $250 million to establish a credit fund to finance crypto funds struggling to deal with the long...

Why is $1 Billion Bitcoin Giant Bitfury Building a Blockchain Music Service?

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By CCN.com: The Bitfury Group, an early bitcoin mining firm turned global blockchain company based out of London, has announced that it will launch an entertainment division tasked with developing an open-source music platform that runs on blockchain technology. From Mining Bitcoin to Tracking Music IP on a Blockchain Tech companies trying to make waves in the music industry is nothing new...

Bitcoin Bull Mike Novogratz Boosts Stake in Galaxy Digital to 79%, Causing Stock to Soar

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Mike Novogratz Bitcoin price

Bitcoin bull Mike Novogratz increased his stake in Galaxy Digital Holdings — the crypto merchant bank he founded — to 79.3%, after acquiring an additional 2.7% of its outstanding shares. Novogratz previously held a 76.6% ownership stake. The former hedge fund manager acquired 7,500,768 ordinary shares for C$7.4 million (or US$5.4 million), according to a January 2 statement. The Goldman Sachs...

Top 5 Worst Bitcoin Price Predictions of 2018

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Despite the price of bitcoin reaching a record high in 2017 and then taking a bearish turn as 2018 kicked in, bitcoin bulls were not deterred and continued making overoptimistic predictions throughout the year. Among the prominent bitcoin bulls, the co-founder of markets analysis firm Fundstrat Global, Tom Lee, stood out for his unrelenting optimism despite continually being proved wrong...

The Big Short: Former IMF Economist Finally Closes Year-Old Bitcoin Short

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A year ago today, Bitcoin peaked at $19,511. Former International Monetary Fund economist and Pharo Senior Risk Trader Mark Dow made an unpopular bet not long thereafter: Bitcoin would not sustain its growth and the price would slip from there. He entered a short position and rode his intuition all the way to the bank, finally closing the position today. A big part of his intuition was the launch...

VIDEO: Spencer Bogart Maintains his $50k Bullish Target for Bitcoin - "2018 Has Been a Fantastic Year for Bitcoin. Forget Prices"

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Bitcoin has lost 80% of its market capitalization amidst a market-wide crash this year. But Spencer Bogart believes the digital currency can still correct up to 1328% from its current value. The Blockchain Capital partner told CNBC that he expects bitcoin to touch $50,000 in the future, similar to what he predicted during the digital currency's famous bull run in 2017. However, this time, Bogart...

Crypto Market Drops Again: Does Bitcoin Price Risk Fall to $2,500?

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Throughout the past three days, the Bitcoin price has demonstrated wild volatility in the range between $3,200 to $3,600. The dominant cryptocurrency has struggled to break out of the $3,700 resistance level which several technical analysts have consistently mentioned over the last two weeks. On December 12, the price of Bitcoin (BTC) fell by around three percent from $3,427 to $3,325 with a...

'Revolutions Don't Happen Overnight': Why Mike Novogratz isn't Giving up on Bitcoin

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mike novogratz crypto bitcoin cryptocurrency galaxy digital

Bitcoin bull Mike Novogratz — the CEO of cryptocurrency merchant bank Galaxy Digital — is unfazed by the recent bear market, saying bitcoin is "digital gold" that will survive and thrive over the long haul. Novogratz admitted that he lost money during the 2018 slump due to bad market calls, but that doesn't dampen his long-term outlook that crypto is a revolution whose time has come. As CCN...

Why Billionaire Investors Still Remain Positive on Long-Term Trend of Crypto

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jim breyer bitcoin crypto blockchain

Mike Novogratz, Jim Breyer, and Tim Draper are some of many billionaire investors in the traditional financial market who remain optimistic towards the long-term trend of crypto. How are these investors able to maintain their positive stance in regards to the growth of the cryptocurrency sector following an 85 percent decline in valuation across the board? It’s About Cycles For the most part...

Crypto Firm Galaxy Digital is Losing an Average of $15 Million every Month

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Mike Novogratz bitcoin price

Galaxy Digital Holdings LP, the cryptocurrency merchant bank founded by prominent crypto investor Mike Novogratz, announced losses totaling $41 million for Q3 2018, bringing the total losses for the year so far to $136 million. Bloomberg reports that the Q3 loss was driven by net realised and unrealised losses on digital assets, chiefly caused by losing positions of Ether, XRP, and Bitcoin in a...

Novogratz: Trying to Start a Bitcoin Business in This Market Climate 'Sucks'

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mike novogratz crypto bitcoin cryptocurrency galaxy digital

Crypto investor Mike Novogratz has expressed dissatisfaction with the level of difficulty involved in trying to build a cryptocurrency business amidst a persistent bear market, even as he remains bullish on the prospects of his company and the wider crypto space in the long term. Speaking to the Financial Times, the former Goldman Sachs partner and founder of Galaxy Digital revealed that the...

Not All Gloomy: 79% Drop of Bitcoin is Smallest Major Correction to Date

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Bitcoin (BTC) has experienced five major corrections to date, and the recent bear market of 2018 is the smallest major correction to date. As seen in a table shared by a renowned trader and technical analyst Peter Brandt, BTC experienced a drop of 79.7 percent in the past eleven months as its price declined from $19,500 to $4,035. On November 21, Bitcoin experienced a steep decline from $4,500 to...

As Crypto Prices Tumble, Mike Novogratz Pounds the Table on Real Estate Tokenization

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mike novogratz crypto bitcoin cryptocurrency galaxy digital

Bitcoin bull Mike Novogratz extolled real-estate tokenization during this "crappy" crypto bear market, saying asset tokenization is an emerging trend. Novogratz is the founder of crypto investment bank Galaxy Digital Capital Management. He said the cryptocurrency market is in a slump, but there are many exciting developments occurring below the surface. “While it feels like a crappy bear market —...

Revolut: Lack of Investor Interest Stunting Crypto Adoption on Wall Street

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Is crypto investing the future of banking? Not in the short term, says fintech executive Nikolay Storonsky, the CEO of London-based startup Revolut, which recently began offering cryptocurrency trading. Storonsky said he had seen "no interest" so far from mainstream institutional investors — despite the fact that Wall Street powerhouses Goldman Sachs and Fidelity are building financial frameworks...

Mike Novogratz's Galaxy Digital Hires Goldman Sachs Exec to Oversee Blockchain Unit

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mike novogratz, bitcoin, bitcoin price

Mike Novogratz’s crypto investment bank, Galaxy Digital Capital Management, hired Goldman Sachs banker Ian Taylor to oversee the group's advisory-services arm. Taylor will join Galaxy Digital before January 2019, sources told Bloomberg. Taylor was a managing director at Goldman, where he worked for almost 19 years, according to his LinkedIn profile. At Galaxy Digital, he will oversee Galaxy...

Bull Call: Novogratz Says Bitcoin Will See Record Highs in 2019

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Mike Novogratz Bitcoin price

Mike Novogratz, the CEO of crypto investment firm Galaxy Digital, predicts that bitcoin will break out of its 2018 doldrums and soar to $20,000 in 2019 — fueled by a spike in institutional investments. The former Goldman Sachs investment banker says institutional "FOMO" (fear of missing out) will drive the market up over the coming months as cryptocurrency assets gain more mainstream acceptance...

Novogratz Says Cryptos Are Safe, Expects Bitcoin to Rally In Q1 2019

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mike novogratz, bitcoin, bitcoin price

Mike Novogratz, a prominent cryptocurrency investor, and CEO of Galaxy Investment Partners has toned down his optimism, reiterating that he doesn't expect a price surge in the price of Bitcoin until institutional adoption occurs, which could happen in the first half of next year. Speaking with Bloomberg's Erik Schatzker on "Bloomberg Markets: The Close," the Galaxy Investment Partner who is known...

Lack of Transparency to Blame for Tether's Loss of USD Peg: Novogratz

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Mike Novogratz bitcoin price

Five days since losing its U.S. dollar peg, fiat-backed cryptocurrency tether (USDT) continues to trade at a discount to its supposed $1.00 valuation. Defenders have largely chalked up the markdown to FUD, arguing that supporters of other “stablecoins” are launching a coordinated assault on tether, which has long dominated this market niche. However, billionaire investor and cryptocurrency bull...

Goldman Sachs Headlines $59 Million Funding Round in Cryptocurrency Custodian BitGo

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bitcoin cryptocurrency institutional investors

Wall Street banking giant Goldman Sachs has put another stake in the ground of the burgeoning cryptocurrency industry, headlining a $58.5 million Series B funding round in digital asset custodian BitGo. Goldman, Novogratz Invest $15 Million in BitGo Announced on Thursday, the Series B round raises the Silicon Valley-based bitcoin startup’s total fundraising to approximately $70 million. Also...

Billionaire Mike Novogratz' Crypto Fund is Fidelity's First Custodian Client

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Mike Novogratz Bitcoin price

Galaxy Digital, a crypto merchant bank operated by billionaire investor Mike Novogratz listed on Toronto-based stock exchange TSX-V, has become the first alpha crypto custody client of Fidelity Digital Assets. This week, Fidelity, the world’s fourth-largest asset manager with $7.2 trillion in assets under administration as of October 2018, launched Fidelity Digital Assets, a subsidiary of...

Yale University Has Invested in Two Cryptocurrency Funds: Report

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The “herd” of institutional investors that cryptocurrency bulls such as Mike Novogratz have perennially said is just over the horizon is finally making an appearance, as reports have emerged that one of the world’s largest university endowments has invested in two cryptocurrency funds. Yale University Endowment Makes Cryptocurrency Play Citing an anonymous source familiar with the matter...

Crypto Bull Mike Novogratz Trims Short-Term Bitcoin Price Forecast [Again]

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Mike Novogratz bitcoin price

One of the cryptocurrency market’s biggest bulls has once again trimmed his optimistic short-term bitcoin price forecast, stating this week that he does not believe that “digital gold” will reach the five-figure mark again until 2019. According to CNBC, Mike Novogratz, the billionaire founder of cryptocurrency merchant bank Galaxy Digital said on stage at the Economist Finance Disrupted event in...

Mike Novogratz: Bitcoin Price Rally Inbound in Q1 2019

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Perennial bitcoin bull Mike Novogratz, founder and CEO of Galaxy Digital, claims bitcoin is positioned for major growth now that institutions are investing in it and big compananies are starting to accept it. Novogratz told CNNMoney’s “Markets Now” that big companies like Microsoft and Starbucks are allowing customers to use bitcoin and that, in the short term, more institutions will invest for...

Bitcoin Still in the Middle of a Bear Market: Analyst

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Veteran Bitcoin analyst Willy Woo insists that bitcoin is still in the middle of a bearish trend. This contradicts the opinions of some experts who believe that the sell-off period has already come to an end, therefore expecting a bull ride to kick in. Market Behaviour and Speculators Since January 2018, bitcoin and the cryptocurrency market in general have been in a significant downtrend. This...

Coinbase, BitGo Reaffirm Plans to Focus on Serving Institutions in Crypto

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Two US-based crypto behemoths, Coinbase and BitGo, will continue to facilitate growing demand for Bitcoin from institutional investors by operating as trusted custodians. Earlier this week, BitGo was approved by South Dakota regulators to create and operate a crypto custody solution, while Coinbase established a new office in New York exclusively to handle institutional demand into the market...

Mike Novogratz Says the Cryptocurrency Market Has Found a Bottom

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Mike Novogratz Bitcoin price

For the past nine months, the cryptocurrency market has seen steady declines, forcing most altcoin prices down 80 percent or more from their all-time highs. Even bitcoin, “digital gold,” has shed 68 percent from its mid-December peak. However, the wind, says billionaire Galaxy Digital founder Mike Novogratz, is about to shift. Writing on Twitter, Novogratz, a former principal at Fortress...

Yale: Every Portfolio Should Have Crypto, Method Used by Billionaire Investors

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bitcoin cryptocurrency institutional investor crypto

Yale economist Aleh Tsyvinski, who has taught economics at the prestigious Yale university for many years, has said that every investor who believes bitcoin can perform as well as it did in 2017 should invest at least six percent of their holdings in crypto. “If you as an investor believe that bitcoin will perform as well as it has historically, then you should hold 6% of your portfolio in...

Crypto Bank Galaxy Digital Takes Massive Hit in Stock Market Debut

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Mike Novogratz Bitcoin price

If you look hard enough, you can find a silver lining, but there’s no denying that billionaire Mike Novogratz has had a difficult week. Crypto Merchant Bank Has Rocky Debut Days after revealing that Galaxy Digital, his cryptocurrency merchant bank, posted a $134 million loss during Q1, the firm took a massive hit in its stock market debut. CNBC reports that Galaxy Digital, which trades under...