Billionaire Michael Novogratz: Cryptocurrencies Are The Biggest Bubble Of Our Time The former head of Fortress Investment Group intends to create a $ 500 million hedge fund that will invest in cryptocurrencies and blockchain. Bloomberg News writes about this with reference to its own sources.

Billionaire Michael Novogratz: Cryptocurrencies Are The Biggest Bubble Of Our Time

The former head of Fortress Investment Group intends to create a $ 500 million hedge fund that will invest in cryptocurrencies and blockchain. Bloomberg News writes about this with reference to its own sources..

Presumably, Michael Novogratz will contribute $ 150 million from his own assets and raise another $ 350 million from external sources by the end of 2017. In response to a Bloomberg request, Novogratz chose not to confirm this information, but did not deny it either..

If the information is confirmed, the Novogratz Foundation could be the most aggressive move in space to date. Earlier, Novogratz had already come to the attention of the cryptocurrency media, when in April of this year he announced that he was investing 10% of his own capital in Bitcoin and Ethereum. In a recent conversation with Bloomberg, he noted that his investments in the cryptocurrency market have grown since then..

Even if in fact Novogratz did not prepare $ 150 million for the formation of a hedge fund, he confirmed that he intends to continue to participate in "the largest bubble of our time.".

He stated: “This will be the biggest bubble of our time. The rates will rise well above the marks at which they should have been. You can make tons of money out of it; this is what we are planning to do ".

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