Cryptocurrencies to make up 2% of global wealth in 2-3 years: Billionaire Novogratz
In an interview, Billionaire bitcoin bull Mike Novogratz stated that the cryptocurrency industry remains in its early days
In an interview, Billionaire bitcoin bull Mike Novogratz stated that the cryptocurrency industry remains in its early days. He projected that the wealth it generates will continue to multiply in the upcoming years.
As per the statement given by him, “currently, the total crypto wealth is nearly USD 2 trillion, that means one half of 1% of all wealth. If one doesn’t think in the upcoming two to three years that can be 2% to 3%, that means one is not paying attention to the trends.”
According to data compiled by CoinMarketCap.com, the entire market capitalization of cryptocurrencies is roughly USD 2 trillion. Bitcoin which was trading above USD 63,000 per coin is responsible for more than 1/2 of crypto’s market value. Bitcoin has been on a rip since the fall. It has priced below USD 11,000 as recently as October.
Novogratz is a founder and CEO of Galaxy Digital, a crypto-focused financial services company. Galaxy Digital recently filed for a bitcoin ETF with the Securities and Exchange Commission. Novogratz has entered the crypto world after stops at well-known, traditional Wall Street firms. He’s an ex-Goldman Sachs macro trader and fund manager at Fortress Investment Group.
