TECH
The CEO of Galaxy Investment Partners, billionaire Michael Novogratz, said in an interview with Bloomberg that he believes the recovery of Bitcoin's value should be delayed. The businessman does not expect Bitcoin to go back to $ 10,000 this year.
During the interview, held last Monday (Nov. 15), Novogratz talked about its expectations with the future of Bitcoin's value. His expectation is that the historical peak of the criptomoeda will not be recovered so soon: ''One thing you learn in this process is that everything takes a little longer than you expected, [...] I do not see you surpassing $ 10,000 by the end of the year ''...
Novogratz was seriously affected by the sharp decline in Bitcoin's value in December 2017. The businessman planned to launch a crypto-coins hedge fund, announced in September last year. However, he decided to postpone his project after the value of the BTC dropped one-third in just one week, shortly after reaching the $ 20,000 mark.The CEO said he had lost confidence in the value of Bitcoin, but believed that the criptomoeda would return to the $ 8,000 range in the short term, which did not materialize.Before the strong market correction, Novogratz believed that Bitcoin would continue in the valuation process until reaching the mark of US $ 40 thousand. He planned to build a $ 500 million hedge fund, starting with a $ 150 million investment. The plan was to open up investments in specific currencies and ICOs.In February, Novogratz resumed its investments in crypto-coins, this time through the commercial bank Galaxy Digital, focused exclusively on operations with digital currencies, such as investments in blockchain startups and ICOs and cryptoactive trading desks.For the bank's creation, Mike said he had invested $ 250 million, 25% more than the one announced at the launch of the project. The entrepreneur defined the Galaxy Digital as the "Goldman Sachs of the crypto-coins.
Source:Portalbit
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