Hedge fund legend Mike Novogratz is betting it all on bitcoin. Although he says digital currencies like bitcoin show signs of forming a bubble, former hedge fund manager Michael Novogratz is going all-in.
The former Fortress Investment Group manager says he’s been investing in bitcoin and its underlying blockchain technology for a while and sees bitcoin’s price rising to over $10,000 in the next six to 10 months, largely because of heavy investor interest. Bitcoin was up 2.1 percent on Tuesday, to $4874.15 as of 5 p.m. ET, according to CoinDesk, and has surged in value this year.