Alibaba, silver, gold, Bitcoin, Ethereum: Mike Novogratz’s ideal portfolio

Ana Paula Pereira16 hours agoAlibaba, silver, gold, Bitcoin, Ethereum: Mike Novogratz’s ideal portfolioDuring a recent interview with Bloomberg Wealth, Novogratz touched on topics ranging from investing to Ripple’s case and BlackRock CEO Larry Fink.15814 Total views28 Total sharesListen to article 0:00NewsJoin us on social networksGalaxy Digital founder Mike Novogratz shared what an ideal investment portfolio would look like for a young and high-risk tolerance investor during an interview with Bloomberg Wealth, saying that he’d invest in the Chinese giant Alibaba, silver, gold, Bitcoin (BTC) and Ethe(ETH).

“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,” he said in allusion to someone investing $100,000. For those with lower risk tolerance, he recommended allocating only 30% of a portfolio in the example, with the remaining 70% in bonds and perhaps index funds.

Novogratz’s bullish stance on Bitcoin received a boost from BlackRock"s application for a spot Bitcoin exchange-traded fund (ETF) in June. In his opinion, the application was the biggest Bitcoin development of 2023. “The most important thing that happened this year in Bitcoin is Larry Fink.” 

Related: Grayscale urges SEC to approve all Bitcoin ETFs simultaneously

Fink, the billionaire CEO of BlackRock, was initially a “nonbeliever,” Novogratz said.

“Now he says, ‘Hey, this is going to be a global currency. People around the world all trust it.’ He got ‘orange-pilled,’ as we say. Orange pill is when you take a nonbeliever, and you make them a believer in Bitcoin.”

BlackRock"s push into Bitcoin is part of an adoption cycle, according to Novogratz, which could lead the price of Bitcoin to reach new highs, especially if the Federal Reserve starts cutting interest rates.

Also commenting on the recent decision in Ripple"s case vs. the Securities and Exchange Commission, in which Ripple’s XRP (XRP) token has been partially classified as a security, Novogratz stated that the decision was a victory for the crypto industry as it proves that “the rules are nothing close to clear.”

Magazine: Should you ‘orange pill’ children? The case for Bitcoin kids books# Bitcoin# Business# Ethereum# Investments# Adoption# Mike Novogratz# Cryptocurrency InvestmentAdd reactionAdd reactionRelated NewsHow to earn passive income with peer-to-peer lendingEthereum is about to get crushed by liquid staking tokensBitcoin remains ‘primary focus’ for investors amid year highs: CoinSharesExecs remain positive on long-term prospects amid VC funding downturnBlackRock Bitcoin ETF could unlock $30 trillion worth of wealth, Bloomberg analyst saysMonochrome Bitcoin ETF gets filed to Australian securities exchange