{"id":249133,"date":"2021-05-13T23:52:59","date_gmt":"2021-05-13T20:52:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/does-mike-novogratz-hold-more-than-5b-in-crypto\/"},"modified":"2021-05-13T23:52:59","modified_gmt":"2021-05-13T20:52:59","slug":"does-mike-novogratz-hold-more-than-5b-in-crypto","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/does-mike-novogratz-hold-more-than-5b-in-crypto\/","title":{"rendered":"# Does Mike Novogratz hold more than $5B in crypto?"},"content":{"rendered":"

“# Does Mike Novogratz hold more than $5B in crypto? <\/strong>”
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Galaxy Digital founder and CEO Mike Novogratz, a billionaire active in the digital asset space, says up to 85% of his net worth is in cryptocurrencies.<\/p>\n

In an interview with New York Magazine\u2019s Intelligencer published today, Novogratz said<\/a> that while he did have roughly 30% of his net worth in crypto starting at the 2017 bull run, the recent price surges in the crypto space had increased the valuation of his holdings, making them \u201cup to 85 percent\u201c of the billionaire investor\u2019s net worth. According to Bloomberg, Novogratz is valued<\/a> at $6.25 billion as of May 12, meaning his crypto could potentially be worth $5.3 billion.<\/p>\n

This estimate would purportedly include Novogratz\u2019s personal holdings and potentially ownership of crypto firms \u2014 Galaxy Digital announced last week it would acquire institutional crypto custodian service and wallet operator BitGo for $1.2 billion. The CEO added that while he might be a HODLer, his lifestyle made such investments possible:<\/p>\n

“I\u2019m lucky enough that I had wealth outside of crypto wealth. I\u2019m as bullish as I\u2019ve been on the space. But I see lots of people that have gone from one lifestyle to having the possibility of really having changed their life. And I\u2019m like, guys, be prudent, take a little bit off the table.”<\/p><\/blockquote>\n

It\u2019s unclear what effect the recent volatility in both Bitcoin (BTC) and Ether (ETH) may have had on Novogratz\u2019s holdings. The price of many cryptocurrencies dropped suddenly yesterday as Elon Musk announced Tesla would suspend its support for vehicle purchases in BTC. This downturn preceded Bloomberg reporting that Binance was under investigation by both the U.S. Justice Department and Internal Revenue Service. <\/p>\n

At the time of publication, the BTC price is $49,096, having fallen more than 9% in the last 24 hours. While Novogratz predicted \u201cof course\u201d ETH could reach a price of $5,000, the token is seeing a similar downturn to BTC, falling 9% in the last 24 hours to reach $3,706.<\/p>\n

\u201cThe last five months have kind of rocked our worlds in terms of what percentage of our net worth is in crypto,\u201d said the Galaxy Digital CEO. \u201cCryptos had a move that is a once-in-a-generation move. And I think people should understand that it\u2019s not going to keep happ<\/a>ening over and over. Like this idea that we\u2019ve gone from not-an-asset-class to an asset class only can happen once.\u201d<\/p>\n