Here’s a Twist — This Positive Outlook on Crypto-Investments
Former Fortress Principal Michael Novogratz, has an optimistic take on cryptos. Novogratz invested in it early on and made millions on top of a huge investment early on, he bought half-a-million Ether at $1USD a piece (today at $296USD).
Over the course of 2016 and into 2017, as ether surged to almost $400 and bitcoin topped $2,500, Novogratz sold enough to make about $250 million, the biggest haul of any single trade in his career.
He claims to have sold most of it a while ago but kept 20% to himself. Which still amounts to an admirably large increase on his initial investment. Still, he managed to rake in multiple millions. And his investments are still actively managed.
Why It Matters:
Despite recent outbursts (particularly by a certain unnamed bank CEO) Michael Novogratz offers up an honest and positive take regarding the current and future state of cryptocurrency markets. Quite frankly, we could all use a contradiction to the headlining negativity and bullish statements.
That is not to say everyone will realize insane profits from trading cryptocurrency. This is an obviously farfetched outcome to aim for at this stage, with a worthwhile message attached to it. Investments in sound opportunities can have very positive returns.
Remember, bubbles happen around things that fundamentally change the way we live,
We’re still well prior to “world awareness”, making cryptocurrency one of those “opportunities of a lifetime” that you probably shouldn’t miss. Novogratz also warned investors; it’s not only about Bitcoin.
- Commentary by Fabiano Soriani
Originally published at medium.com on September 28, 2017.
