Forrest Gump Bitcoin

this is what Michael Novogratz says about himself and he is very modest in this statement — he graduated from the prestigious Princeton in economics, he was also a captain of the wrestling team there, he was also a helicopter pilot in the army. In his professional career, he came to be a partner in the international investment bank The Goldman Sachs Group. Where he flew from as he claims for “partying like a rock star”. In the years 2012–2015 he sat on the Advisory Committee for Investments in the Financial Markets of the New York Federal Reserve. He is also very much involved in helping the poor.

And perhaps the world would have forgotten about him a few years later if it were not for his fascination with cryptocurrencies. In 2013, he invested seven million dollars from his own resources in the purchase of Bitcoin. It’s not hard to imagine the current returns on this investment (Bitcoin was around a hundred dollars at the time). Forbes placed him in the top ten list of the richest people in the world of cryptocurrencies.

Currently, Novogratz is the CEO of a company called Galaxy Investment Partners dealing with investments in cryptocurrencies. Besides, the company is involved in asset management, trading and mining of cryptocurrencies. Nevertheless, it has recorded significant losses in recent years. It is said that the company itself is a special trick to use the speculative bubble to rebuild a fortune. But as Novogratz himself says — for him blockchain is an idea, a boon for developing countries that it can revolutionize the way data is stored and shared.

At the beginning of the year, Novogratz on Twitter showed his photo with a new tattoo that depicted the symbol of Luna — the cryptocurrency of the Terra project, in which he had already invested last year. You get the impression that it was about supporting this project and increasing publicity. However, in May this year, the price of Luna fell by 99% and the fortune of Novogratz shrank by $ 6 billion.

Investors can also worry about the silence on the billionaire’s social media accounts. His company Galaxy Digital, however, issued an official announcement — “The company will continue to manage the pace of investment to take into account the macroeconomic background as it has throughout its history, and our experienced management team still believes that Galaxy Digital has a lot of potential when we move under the current market conditions ”. Although the company claims liquidity at $ 1.6 billion, it still expects a loss of approximately $ 300 million this quarter.