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26

A Crypto Fund King Says Bitcoin Will Be the Biggest Bubble Ever

By Tony Seruga

He is said to aim to raise $500 million after Fortress losses
‘Largest bubble of our lifetimes,’ he says of digital currency

Mike Novogratz is reinventing himself as the king of bitcoin.

The swaggering macro manager who flamed out at Fortress Investment Group LLC is starting a $500 million hedge fund to invest in cryptocurrencies, initial coin offerings and related companies. Novogratz will put up $150 million of his own money and plans to raise $350 million more by January, mainly from family offices, wealthy individuals and fellow hedge fund managers, said a person familiar with his plans…

A Crypto Fund King Says Bitcoin Will Be the Biggest Bubble Ever

Categories : Hedge Funds

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