Cryptocurrencies
Novogratz Remains Steadfast on Crypto, Says Wait Until Next Year
- Bitcoin’s down 37% this month, the most since August 2011
- Galaxy Digital lost $136 million in first nine months of year
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Billionaire investor Michael Novogratz is resolute when it comes to cryptocurrencies, even after his firm lost millions this year as the embryonic market continued to tumble in value.
"It’s been a horrible bear market in tokens," Novogratz, founder and chief executive officer of Galaxy Digital Holdings Ltd., said on a conference call Friday. "There’s plenty of reason to be depressed."