Investor Novogratz on CNN: 5% of your money should be in bitcoin

Mike Novogratz, founder of investment firm Galaxy Digital, is asking investors on live TV to broaden their portfolio with bitcoin and digital currency.

Triple your bitcoin
In an interview on CNN he admitted to want to change his advice to investors. Earlier, he felt that serious investors should invest about 1% of their money in cryptocurrency. Now he advises that they should invest more of their money in Bitcoin Trader cryptocurrency. He recommends that at least 3% of a portfolio should consist of bitcoin in order to hold as long-term assets.

How much should new investors invest in bitcoin?
Novogratz says in the interview that he believes new bitcoin investors are better off putting 5% of their money into bitcoin:

I think a new investor could put 5% in bitcoin. Bitcoin does not go back to zero … It could certainly go back to USD 14,000. You could lose 30-40%, but you don’t lose 80-90% of your money‘.

He continued to explain that this is based on historical data and current stability within the cryptocurrency market. He indicated that Bitcoin is finally fulfilling its role as digital gold and acting as a means to store and retain value.

Skin in the game
Of course you should not shout something like that if you are not full in crypto yourself. His company Galaxy Digital consists of three parts:

Fund Management: A bitcoin and cryptocurrency fund.
Digital Ventures: Invests in blockchain companies.
Interactive: Invests mainly in interactive content and technology.
The fund manages more than 10,000 bitcoins. Novogratz says that approximately 50% of its personal portfolio consists of cryptocurrency. He has bitcoin and ethereum in his portfolio anyway, so you could say he has skin in the game. He likes to talk up his own investments. He has even made a song out of it.