Galaxy Digital CEO Mike Novogratz has revealed that cryptocurrencies now account for 85 percent of his total net worth in a new interview with New York Magazine:
Like anybody in crypto, the last five months have kind of rocked our worlds in terms of what percentage of our net worth is in crypto. And I think I’m up to 85 percent in crypto.
This is a significant increase from the 30 percent share in late 2017.
The former fund manager has regained his billionaire status that he first achieved in 2007, which was right on the verge of the global financial crisis. Bitcoin and Ethereum, his key holdings, have both seen multi-fold increases in value during the ongoing bull run.
Novogratz still sees Ether reaching $5,000:
You know, it’s dangerous to give predictions on the highs. But could it get to $5,000? Of course, it could.
Taking chips off the table
Novogratz urged market participants to be cautious about cryptos that skyrocket 100 times in no time and take “some chips off the table”:
Be prudent, take some chips and buy yourself a house if you can afford it, or a car, or at least at least a nice new jacket. You know, take some of those profits and put them into some joyful things.
The 56-year-old investor claims that he is “grateful” for having money in other companies outside of cryptocurrencies, but he believes that many people will see their wealth diminish if crypto goes south.