Wednesday, April 26, 2017

Billionaire Investor Holds 10 Percent of His Life Savings in Bitcoin, Predicts Price to Hit $2,000

Billionaire Investor Holds 10 Percent of His Life Savings in Bitcoin, Predicts Price to Hit $2,000

Billionaire hedge fund investor Mike Novogratz, who made it into the Forbes billionaire list in 2008, revealed that he holds 10 percent of his net worth in Bitcoin and Ethereum.

Novogratz is considered as one of the early investors of Bitcoin and Ethereum. He first purchased Bitcoin in 2013, when the digital currency was worth around $50. The Bitcoin price declined throughout 2013 due to the Mt. Gox fiasco which led to the loss of hundreds of millions of dollars in user funds.

Early investors of both Bitcoin and Ethereum are respected in the cryptocurrency community because they hardly sell their savings in Bitcoin despite extreme volatility and fluctuation at times. In 2013 for instance, Bitcoin price remained at one of its lowest points for 11 straight months, until it started to surge in November.

Since his investment in 2013, Bitcoin price increased from around $50 to $1,270. In fact, it is close to reaching its all-time high price at $1,277, which was established minutes before the decision of the US Securities and Exchange Commission to decline the Winklevoss Twins’ Bitcoin ETF proposal.

Full story at http://bit.ly/2pdY8bc

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