{"id":281,"date":"2014-05-06T18:47:00","date_gmt":"2014-05-06T18:47:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/investor-mike-novogratz-has-very-simple\/"},"modified":"2023-01-14T02:08:06","modified_gmt":"2023-01-14T00:08:06","slug":"investor-mike-novogratz-has-very-simple","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2014\/05\/investor-mike-novogratz-has-very-simple.html","title":{"rendered":"Investor Mike Novogratz has a very simple argument for why he’s bullish on Bitcoin"},"content":{"rendered":"
<\/a><\/div>\n

(BusinessInsider<\/a>) Former Goldman Sachs partner and current Fortress Investment Group CIO
\nMichael Novogratz says the smartest guys in the room have all turned
\ntheir attention to Bitcoin.
\nIn an interview Monday with Bloomberg Television’s Stephanie Ruhle at
\nthe 2014 Sohn investing conference, Novogratz explained how Bitcoin has
\ngrown to capture the imaginations of programmers from its libertarian
\nroots:<\/p>\n

\n
There are in best estimates somewhere
\n30,000 individual programmers working on Bitcoin. My college roommate
\nlives down in Barbados. He was the smartest guy that we went to school
\nwith [Novogratz graduated from Princeton \u2014 ed.]. He full time works on
\nderivatives of Bitcoin. So there\u2019s this open source community where
\nthere\u2019s huge brain power, let alone all the VC money that\u2019s going in.
\nAnd so from Marc Andreessen and his company to Benchmark\u2026 there\u2019s lots
\nof smart money going in. I\u2019ve never seen a small project with more human
\ncapital going into it, and so I kind of want to bet just on that
\nalone.”<\/div>\n<\/blockquote>\n

Ruhle pressed him on whether Bitcoin could simply flame out.
\nNovogratz responded by saying it would lead to the “democratization of
\nfinance.”<\/p>\n

I think you\u2019re going to see things like
\npeer-to-peer lending. The banks are \u2013 their biggest I think threat is
\nthe same thing that\u2019s happened in so many other industries now happening
\nto the finance industry, right? The Internet disintermediates large
\nplayers and I think Bitcoin is just one of the threats that the finance
\nindustry the way we know it has coming against it.<\/div>\n

Fortress is sitting on<\/a> $13 million-worth of bitcoins. In February, the firm\u00a0became<\/a> the first publicly-traded company to file Bitcoin holdings (they were listed as losses).<\/p>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

(BusinessInsider) Former Goldman Sachs partner and current Fortress Investment Group CIO Michael Novogratz says the smartest guys in the room have all turned their attention to Bitcoin. In an interview Monday with Bloomberg Television’s Stephanie Ruhle at the 2014 Sohn investing conference, Novogratz explained how Bitcoin has grown to capture the imaginations of programmers from […]<\/p>\n","protected":false},"author":1,"featured_media":874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,76,468,678],"tags":[764,1126,1331],"yoast_head":"\nInvestor Mike Novogratz has a very simple argument for why he's bullish on Bitcoin -<\/title>\n<meta name=\"description\" content=\"Learn why investor Mike Novogratz is bullish on Bitcoin in this article. 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