On Monday (November 16), billionaire investor Mike Novogratz made a bold price prediction for Bitcoin.
Former hedge fund manager Novogratz is the Founder and CEO of Galaxy Digital, “a diversified financial services and investment management innovator in the digital asset, cryptocurrency, and blockchain technology sector.”
Former hedge fund manager Novogratz is the Founder and CEO of Galaxy Digital, “a diversified financial services and investment management innovator in the digital asset, cryptocurrency, and blockchain technology sector.”
Last week, during an interview with Alex Saunders in episode E734 of the “Nugget’s News” crypto podcast, Novogratz talked about how he first got into crypto, and how much he paid for one bitcoin back then:
“I got a call from a friend of mine. He asked me about Bitcoin, and I had never heard of it. He had moved out to the west coast — everyone was talking about Bitcoin — and so, I did 15 minutes of research, and was like ‘ah cool tech technology, libertarians like it’…
“This was in 2012. We’re in the European financial crisis. The Chinese were buying … so my first buys of Bitcoin were at about $95, and they were very speculative. I bought it because I thought it would go up.
“And as I started looking at it, digging in, I thought this could be cool. So, I called a friend of mine — Dan Moorhead from Pantera [Capital] — whom I had invested with when he ran a macro fund a few years earlier. I helped seed his macro fund…
“I said ‘Morehead, take a look at this; I don’t have enough time.’ And after two weeks, he called me back, and said ‘Dude, this is going to change the world’… So we decided — Pete Briger, my other partner, myself, and Dan — that we would buy a bunch of Bitcoin and to Dan’s credit he bought a lot. We were a lot richer than Dan at the time, and so he bought a lot of Bitcoin — about thirty thousand bitcoin — for himself, and so we’re like ‘I’ll have $30,001’ because we couldn’t let him have more than we had; so we roughly all about the same.
Well, yesterday, after Game of Thrones actress Maisie Williams ran a Twitter poll to ask her 2.7 million followers if she should become a Bitcoiner, Novogratz told her that she should and explained why:
I bought more $BTC last night at 15800. It’s going to 20k and the. To 65 k. The network effect has taken over. I see tons of new buyers and there is very little supply. It’s an easier trade here that at 11k. So YES, buy it.
— Mike Novogratz (@novogratz) November 17, 2020
His second tweet is quite interesting because it also reveals that he bought more Bitcoin as recently as Sunday (November 15) at a price of $15,800 per bitcoin. Since then, his latest investment in Bitcoin has already gone up 5.77% since, according to CryptoCompare, currently (as of 08:52 UTC on November 17), Bitcoin is trading at $16,712, up 3% in the past 24-hour period.
