21 Apr '17, 12pm

Hedge Fund Founder Invests 10% Net Worth into Bitcoin and Ether

Hedge Fund Founder Invests 10% Net Worth into Bitcoin and Ether

The founder of Fortress Investment Group claims to have invested 10% of his overall net worth into cryptocurrencies. Speaking at a Harvard Business School forum on Wednesday , Fortress Investment Group founder Michael Novogratz discussed his outlook on blockchain and digital currencies, according to a report by CNN Money . Novogratz said he has invested in both bitcoin and ether , the cryptocurrency that powers the ethereum blockchain , calling the moves the "best investment" of his life, according to the report. CNN further detailed how Novogratz said he invested in ether when it was trading for just $1, having been impressed by ethereum founder Vitalik Buterin at a dinner party held at his home. According to CoinDesk's Ether Price Index , the cryptocurrency was trading at around $48 at the time of reporting. While such outsized statements may seem unusual from a financia...

Full article: http://www.coindesk.com/hedge-fund-founder-invests-10-net...

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