Bitcoin Price to Reach $10,000 before the end of next month- Novogratz

Illustration of open currency source money Bitcoin

Billionaire trader and legendary hedge fund manager Mike Novogratz says that the bitcoin price will reach $10,000 in just about 40 days or less.

Mike Novogratz, who was a partner in Goldman Sachs and hedge fund manager at Fortress Investment Group, is deeply invested in Bitcoin. He was an early investor in Bitcoin, purchasing Bitcoins for $50 each in 2013. He also invested in Ether at the IPO, picking it up for about thirty cents. He has stated that he has invested 10% of his life savings in Bitcoin and Ether. Given the massive increase in prices of Bitcoin and Ether over the past year, that proportion is likely to have increased. Novogratz is currently looking to raise up to $500 mln to set up a hedge fund in the cryptocurrency space

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Novogratz also said that investors have been “receptive” to his creation of Galaxy Investment Partners, a $500 million crypto-hedge fund — the largest of its kind — that will invest exclusively within the blockchain space. He is staking at least $100 million of his own capital in the fund, and he hopes to raise $350 million to $400 million from external investors by the first quarter of 2018.

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