Michael Novogratz is starting a merchant bank dedicated to cryptocurrencies and blockchain-based ventures. Bloomberg's Erik Schatzker has the details via "Bloomberg Daybreak: Americas." Bloomberg.com video published Jan 9, 2018
See also: Bitcoin, ethereum and ripple make comeback after crypto sell-off | cnbc.com Jan 18, 2018.
Novogratz is the CEO of Galaxy Investment Partners, a cryptocurrency investment firm. Originally scheduled to start his Galaxy Digital Assets Fund on December 15, 2017, he delayed plans because he "didn't like market conditions."
Crypto market cap is over 1 tr if you count all coins as well as value of the companies in the space. 2018 is gonna be a wild ride.— Michael Novogratz (@novogratz) December 30, 2017
total $XRP now worth $380 bn.... makes Ripple labs worth $225bn.. tenth largest company by market cap in the world... makes Chris Larsen worth $55bn tying Mark Zuckerburg as 5th richest man in the world.....— Michael Novogratz (@novogratz) January 4, 2018
At one Point in the 1989 Japanese real estate bubble, the Imperial Palace in Japan was said to be worth more than the entire state of California,, things that don't make sense don't last....be careful out there— Michael Novogratz (@novogratz) January 4, 2018
To be clear, we delayed launching a hedge fund with outside investors capital last week because we didn’t like market conditions for new investors. In no way does it mean we are less bullish the crypto markets.— Michael Novogratz (@novogratz) December 22, 2017
Galaxy is building out a full fledged crypto merchant bank. I have over 30 percent of my net worth in crypto assets. We have venture bets, ICOs, tokens, investments in funds, mining and advisory. We also trade very actively. We are making a large long term bet on crypto.— Michael Novogratz (@novogratz) December 22, 2017
