Bitcoin Bull Mike Novogratz Says Investors Should Invest At Least 5% in Bitcoin

The founder of Galaxy Digital Mike Novogratz has advised investors to shift their focus more on digital currencies especially on the world’s largest cryptocurrency by market cap Bitcoin (BTC) that has witnessed a great deal of popularity during the past decade since its year of establishment in 2009.

Recently on the 8th of December, Novogratz appeared in an interview with CNN where he talked about the worth of the rapidly evolving cryptocurrencies. He considers it crucial for investors to make an investment in the leading digital currency as he is of the view that there is very little chance for investors to lose their money when they invest in cryptocurrencies.

While elaborating on his point of view further, he said that if an investor makes an investment in Bitcoin or any other digital currency he might lose 30 percent to 40 percent of its invested money but not more than that. When he was asked about how much an investor should invest in Bitcoin, he said that investors should put at least 5 percent of their asset portfolios in the top-ranked digital currency. He specifically advised new investors who begin their journey in the financial market.

He said in the interview, “I think a new investor could put 5% into Bitcoin. Bitcoin’s not going back to zero… It could certainly trade back to $14,000 USD — you could lose 30-40%, but you’re not losing 80-90% of your money.”

Mike Novogratz is turning to be a big fan of Bitcoin. He is not only advising other investors to take interest in Bitcoin but he has also dedicated a major part of his investment portfolio to Bitcoin.  The Chief Executive Officer of Galaxy Digital claimed that he has around 50 percent of his entire investment portfolio in cryptocurrencies.

He seems to have put high confidence in the leading digital currency. Novogratz also thinks that Bitcoin is completely fulfilling its role as a better store of value.

Furthermore, he claimed in the interview, “You’re going to see every single financial institution forced into this space. We’re at the beginning innings of rebuilding the infrastructure that American & global business will be done on in the future.”

Meanwhile, Bitcoin’s price value has started flowing in a downward direction after recording its all-time high value.  The coin is slightly trading bearish at the moment. At the time of writing, the price of the coin is trading at around $18,250 with a negative change rate of 3.12 percent in the last 24 hours.