Mike Novogratz invested $15M in AlphaPoint and correctly predicted Ethereum legal status

Mike Novogratz continues to implement his strategy of investments, mergers and acquisitions. The latest example is AlphaPoint Corporation, this establishment claims it can ease the process of traditional assets’ tokenization and help a usual firm to open up a cryptocurrency brokerage platform.

As part of the $15M investment announcement, the businessman heading the vast crypto fund Galaxy Digital said that this is going to be a good opportunity to further digitize the classic market.

Yesterday we have seen that predictions made by Novogratz about the legal status of Ethereum were completely true. As a reminder, at the beginning of this June he presumed that this digital currency will not be viewed as security. To be more precise, the entrepreneur said:

“I bet dimes to doughnuts they will say “Ethereum probably was a security, but it’s not anymore.””

And indeed, the SEC’s head of Corporate Finance department has formulated this principle at the recent speech, which even led to a local price increase of this digital currency.

Notably, Mike Novogratz supports the initiatives of the U.S. regulators, telling that they are going to “knock out some of the crap from the system”. For instance, CNBC’s video instructions on Ripple acquisition might have been a pump-and-dump scheme, investor implied.

Image: Rick Wilking / Reuters