Michael Edward Novogratz: just because Bitcoin is a bubble doesn’t mean you can’t invest in it

Mike Novogratz, the market analyst and macro manager, known for his big investments in Bitcoin, has had an interesting interview with the Bloomberg reporter.

In his interview to Bloomberg, Novogratz has gladly shared his opinion on Bitcoin and blockchain. According to him, ten or fifteen years later from 2017, the world is going to change thanks to the blockchain, and distributed-ledger currencies, while being a bubble, are going to change the world as well. He reminds: bubbles always happen around things that, in fact, change the people’s lifestyle or working processes, just like it was with the old railroad bubble (Britain, 1840s) and the relatively recent dotcom bubble (at the end of 1990s, traditional companies overrated the possibilities the Web had to offer and raced each other in opening official websites, often ending at “.com”). Innovations, while often being overrated and becoming a bubble at some point of the market history, are not frauds, and Bitcoin is not a fraud as well, Novogratz concludes.

While believing Bitcoin is a bubble, “the biggest bubble of our lifetime”, Novogratz tells he plans to invest in it and make money off of it before it blows up. He advises everyone to invest in Bitcoin not all one hundred percent of funds, as it’s too risky, but invest a little.