Investor Mike Novogratz Has A Very Simple Argument For Why He's Bullish On Bitcoin
Reuters/ Fred ProuserIn an interview Monday with Bloomberg Television at the 2014 Sohn investing conference, Novogratz explained how Bitcoin has grown to capture the imaginations of programmers from its libertarian roots:
There are in best estimates somewhere 30,000 individual programmers working on Bitcoin. My college roommate lives down in Barbados. He was the smartest guy that we went to school with [Novogratz graduated from Princeton - ed.]. He full time works on derivatives of Bitcoin. So there's this open source community where there's huge brain power, let alone all the VC money that's going in. And so from Marc Andreessen and his company to Benchmark… there's lots of smart money going in. I've never seen a small project with more human capital going into it, and so I kind of want to bet just on that alone."
Fortress is sitting on $13 million-worth of Bitcoin. In February, the firm became the first publicly-traded company to file Bitcoin holdings (they were listed as losses).
Next Story
Deepika Padukone joins long list of Bollywood celebs to invest in startups – and her bet is on Greek yogurt- Here's how the government’s new debt relief scheme for small business owners will work
- Jet Airways isn’t the only one, 6 more global airlines have vanished
- IPL final and Game of Thrones semi-final saw Hotstar break all records
- Samsung bet on this team in the $6.3 billion Indian Premier League-- and it has paid off again
- Time Magazine's new cover pokes Narendra Modi where it hurts the most
- INTERVIEW: One of India's oldest bicycle makers wants to make electric bikes for the world
- Cognizant hints at more job cuts while outgoing execs may take $25 million
SIGN IN WITH
FacebookGoogleEmail