Mike Novocrats argues for 50% of net worth in cryptocurrencies, up to 5% for investors

Galaxy Digital founder and CEO Mike Novograts encourages investors to allocate a large percentage of their portfolios to crypto.

In an interview with CNN’s Julia Chatterley today, Novgorod said he had “changed his song” on the advice of investors that they should allocate about 1% of their net worth to bitcoin.P.D.C.) And other cryptocurrencies. The CEO said as recently as November People should invest up to 3% in BTC And HODL for five years.

“I think a new investor can add 5% into Bitcoin,” Novogratz said. “Bitcoin is not going back to zero […] It can, of course, trade for 000 14,000 – you will lose 30-40%, but not lose 80-90% of your money. ”

“You ‘re going to see every financial institution forced into this place.”

Invest 5% of your net worth #bitcoin Says novogratz.

“We are in the opening innings of rebuilding the infrastructure that will do business in the US and globally in the future.” pic.twitter.com/b0hdiQwrrG

– Julia Chatterley (cjchatterleyCNN) December 8, 2020

Novocrats said the numbers were based on “stability around bitcoin” and that the currency was “fulfilling its role as digital gold with a value store”. The CEO further said that he just hopes that the volatility of Bitcoin will “decrease”.

Galaxy Digital CEO has a net worth of $ 700 million. When Chatterley pressured him to put a number on his investments, Novocrats said his “overall crypto exposure could be as high as 50%”.

Novograts suggested investing some of the net worth of one in Ether (ETH), When referring to the token was “a venture expansion for it”. He defended his challenges on other Altacoins, saying some would be “worth a lot” in the future, while others would not.

Novocrats is well known for its major bitcoin inserts. In November, he The price of bitcoin is predicted Going from “20K to” 65K “.