![]() ![]() This year, a flurry of enforcement actions by the SEC against the biggest crypto firms has rattled many in the industry. “I don't know if we will all use that as our identity.” “I think the price potentially can go a lot higher, because there's an AI hype cycle,” Novogratz said. A token issued by the project more than doubled in value at launch this week, before retreating from those highs. ![]() ![]() That'd be my portfolio.” Those with lower risk tolerance should put 30% in a portfolio like that and 70% in bonds and perhaps an index fund, he said.Īsked if Worldcoin would take off, Novogratz said “you don't want to bet against Sam Altman right now.” (Altman, co-founder of Worldcoin, is also behind the artificial intelligence sensation ChatGPT.) Worldcoin uses a small device called an “orb” to scan people's eyeballs in order to generate a a unique digital identity for online use. I'd be buying silver, gold, Bitcoin and Ethereum. His advice today, for someone who has $100,000 to invest: “If they were young and had a high risk tolerance, I'd be buying Alibaba stock. The now-infamous tattoo on his arm - a wolf howling at the moon with the word “Luna” - serves as a “good reminder of hubris,” Novogratz said. Novogratz's reputation took a hit last year when a crypto project he supported, the Luna token invented by South Korean entrepreneur Do Kwon as part of an experiment in algorithmic stablecoins, blew up, triggering a series of collapses in the industry. In 2018, he founded Galaxy Digital, which provides financial services such as trading, investment banking and asset management in the crypto industry. and Fortress Investment Group, first bought Bitcoin when it was trading at about $100. One of the most vocal crypto advocates from Wall Street, Novogratz, a former partner at Goldman Sachs Group Inc. Novogratz, in a wide-ranging conversation at Galaxy's offices in lower Manhattan, also said a recent ruling in the Securities and Exchange Commission's case against Ripple Labs represented a “huge victory” for crypto, and touched on topics ranging from Sam Altman's eyeball-scanning Worldcoin project to Galaxy's commitment to keeping a presence in New York. This week, Bitcoin hovered between $29,000 and $30,000 after soaring more than 70% year to date. Now he says, ‘Hey, this is going to be a global currency.' People around the world all trust it.”īlackRock's ETF push and Fink's evolving attitude are part of an “adoption cycle” that Novogratz said may help the coin top its all-time high of nearly $69,000 reached in 2021 - especially when it's accompanied by an eventual Federal Reserve pivot toward cutting rates. Orange pill is when you take a nonbeliever and you make them a believer in Bitcoin,” Novogratz, CEO of Galaxy Digital Holdings, told David Rubenstein in an interview this week for an upcoming episode of Bloomberg Wealth. ![]()
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