Michael Novogratz advises investing in BTC, ETH, precious metals and Alibaba shares
Galaxy Digital founder Michael Novogratz described what an ideal portfolio should be for risky investors. He, of course, included cryptocurrencies in it.
The entrepreneur noted that if he needed to invest $100,000, he would opt for BTC, ETH, precious metals and Alibaba shares.
“If they were young and had a high risk tolerance, I’d be buying Alibaba stock. I’d be buying silver, gold, bitcoin, and ethereum. That’d be my portfolio, and investing the rest in bonds and index funds,” Novogratz said.
The trader’s confidence in the prospects of the main digital coin grew after BlackRock applied to launch a spot Bitcoin ETF. Novogratz pointed out that the CEO of the company was not previously a supporter of BTC, but then changed his mind.
“Now he says that BTC will be a global currency and people around the world will trust it. He took an orange pill. He believed in bitcoin,” says the founder of Galaxy Digital.
And Binance CEO Changpeng Zhao believes that investors should not limit themselves to popular stablecoins, but rather look at small algorithmic stablecoins to diversify risks. According to the entrepreneur, the USDT token that Tether issues should be treated with caution due to lack of transparency.
“Personally, I have not seen any USDT audit reports. I don’t think most people have seen them either. So it’s kind of a black box because we don’t know anything,” Zhao said.
It wasn’t until about a couple of years ago that Tether disclosed detailed data on USDT-backed assets for the first time in a long time. The head of Binance also noted that even regulated and verified stablecoins, such as BUSD, are associated with various risks.
“We need to work with as many stablecoins as possible. No need to bet on any one crypto asset. We have a small team working on algorithmic stablecoins in various locations. These stablecoins do not have a large scale, but they are very relevant locally,” Zhao said.
Do you agree with this?
*The material is not an investment advice
