Published on April 21st, 2017 | by bitcoin0
Bitcoin and Ether gets 10% of Hedge Fund Billionaire’s Net Worth.
A former principal at Fortress Investment Group claims to have invested 10% of his overall net worth into cryptocurrencies.
Speaking at a Harvard Business School forum on Wednesday, Michael Novogratz discussed his outlook on blockchain and digital currencies, according to a report by CNN Money.
Participating on panel that included representatives from Microsoft and CME Group, Novogratz said he has invested in both bitcoin and ether, the cryptocurrency that powers the ethereum blockchain, calling the moves the “best investment” of his life, the report said.
According to CoinDesk’s Ether Price Index, the cryptocurrency was trading at around $48 at the time of publication.
Novogratz was notably involved in the early formation of the group, according to reports at the time, serving as co-chief investment officer of Pantera Bitcoin Partners, the fund managed by Pantera Capital.