According to CNBC – Former hedge fund manager, Michael Novogratz, is starting a $500 million fund to invest in cryptocurrencies, initial coin offerings and related companies. He put $150 million of his own money into Galaxy Digital Assets Fund and plans to raise the rest from outside sources by January.
Blockchain technology is here to stay and it is not going anytime soon. Bitcoin is killer application based on Blockchain, its almost like Email on the internet. So,
CryptoCurrency fund is great idea and investment may earn some good returns for its investors.
Investors are starting to realize this and hence we are seeing lot of interest from wall street investors, its almost like we think lot of money is coming towards this technology. Cryptocurrencies are useful in everyplace where money or any type of asset is exchanged, it will be useful to confirm transactions quickly, securely as well as with privacy.
At KryptoMonk, we think that bitcoin is worth more than gold coin and has tested lot of hurdles and thats why couple days back we called it will definitely cross $6000 mark in near future. Michael Novogratz is more optimistic and thinks that bitcoin may rise to $10,000 in next six months.