RATE Group | Michael Novogratz on financial advisers using bitcoin
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Michael Novogratz on financial advisers using bitcoin

30 Jan Michael Novogratz on financial advisers using bitcoin

Posted at 04:01h in Bitcoin News by

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  • Galaxy Digital founder Michael Novogratz told attendees at a conference predicted that registered investment advisers (RIAs) using platforms like Fidelity, which allow advisers to trade bitcoin, will be the next wave of investors to embrace the digital currency. 
  • But “plumbing is needed” for bitcoin to become more institutional, he said. 
  • Pensions “have been slow to move,” he said at the Miami conference on Wednesday. While big-name endowments have invested in crypto-linked ventures, he said only 5% of endowments hold any bitcoin. 
  • Visit BI Prime for more stories. 

MIAMI BEACH — Michael Novogratz, the colorful former Goldman Sachs and Fortress Investment Group partner who founded the digital investment bank Galaxy Digital, believes bitcoin can eventually become the “digital gold” he believes it is.

It just needs Baby Boomers’ money to do it. 

Registered investment advisers will be the next wave of investors to embrace the digital currency, but they need…

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