Mike Novogratz is launching a $500 million crypto hedge fund, is this the true beginning of the crypto-bubble?
Earlier in the year many people were talking about there being a crypto bubble and I always thought we aren't even scratching the surface of how much money will come into the space in a true bubble and that 100 billion is less than a successful tech company. Now of course I have seen news that a $500 million crypto hedge fund is about to launch? Hedge funds like these create the real bubbles and this is enough money to have a significant impact on the market cap of many tokens.
“This is going to be the largest bubble of our lifetimes,” Novogratz said. “Prices are going to get way ahead of where they should be. You can make a whole lot of money on the way up, and we plan on it.”
There is some truth to these words. This is the opportunity of a lifetime for any of us on Steemit and whether or not it is a bubble is only part of the story. The long term utility of some of these projects will produce lasting wealth for early participants but the challenge will be determining which projects will produce ecosystems which are long term viable. I'm not concerned Bitcoin, Ethereum or any current projects are long term viable but I do think if they evolve in the right way at least some of them could be.
Where others see volatility and liability, Novogratz, a former Goldman Sachs Group Inc. partner, smells opportunity.
There is no easy money. Any once in a lifetime opportunity is usually surrounded by risk. If the opportunities were plentiful then people wouldn't have to take risks to not only find opportunity but to "capitalize" on opportunity. Compared to the risk of long prison sentences associated with similar scale opportunities in history I would say the crypto opportunity is one of the rare once in a lifetime opportunities where people can get rich literally overnight without the risk of decades in prison.
This is a very interesting note you are sharing with us. I am now really looking forward to becoming rich!?! ;) Thanks a lot for these insightful words, news on the world of the upcoming crypto-bubble! Namaste :)
Thanks 4 share
I'm longterm bullish on Bitcoin and Crypto in general. I think the idea is that there will never be a need to sell crypto for cash because we will be able to spend crypto on goods and services.. This looks like a healthy chart, lows higher than the previous.. crazy it's just 1 year but I can see even more growth to come
TO THE MOON!
I never thought I'd contact the crypto currency, but I got in touch and I like it.
Bitcoin's rise from less than a cent, to current prices in the thousands has already proven the point!
All the way up, the naysayers attacked bitcoin!
So what is new now with these naysayers still attacking bitcoin?
Many millionaires have already been created and blockchain technology hasn't even become mainstream yet!
Thanks for sharing. This technology brings chances of a lifetime. Our world needs these chances.
So what do we think is gonna blow up next? I've been keeping an eye on Ripto Bux as a sub-penny stock and NEM as another option. I'm really interested in sub penny but never seem to find when these currencies first come to market.
500 million will not create a big bubble if it s spread over the cryptomarket.
I don t see ths as a problem , it will get a lot more people to cryptocurency.