Crypto Investor Novogratz Launches New Funds to Feature Bitcoin

Mike Novogratz, who is the founder and current head of Galaxy Digital Holdings, seems to be trying to attract more investment money. Novogratz has been one of the most innovative forces in the crypto sphere, and is responsible for a number of crypto-firsts.

His latest project is two new funds offered by Galaxy, both of which are aimed at the investor class who have between $5 million and $25 million USD in assets. Novogratz thinks that these investors aren’t served by current crypto investment options, and he may well be right.

New Crypto Ideas for Established Investors

Steve Kurz, the head of asset management at Galaxy Digital, commented to Bloomberg:

“The existing landscape for accessing Bitcoin is incomplete…We are trying to offer secure service providers, low fees, simple access to Bitcoin. We wanted to create something that could plug into the existing infrastructure.”

Kurz is probably right in his assessment of the crypto investment community, which is mostly comprised of large holders, called ‘whales’, or by small investors who aren’t from the established financial markets.

There are many barriers to investing in cryptos directly, and many traditional investors aren’t comfortable with direct ownership of an asset. Custody is a major problem for the crypto markets, as numerous hacks and exchange meltdowns have demonstrated.

Novogratz is Still Mega-Bullish

Novogratz was credited with being one of the first people to attain a billion USD net worth from cryptos, although that situation was short lived. He was one of the first investors from the established markets (he worked at Goldman Sachs) to turn into a die-hard crypto bull, and he is still very positive on the sector.

Novogratz commented:

“You are seeing Bitcoin way outperform other coins right now, and I think that will continue until these coins start to get used for things…You also get more credentialed people – there are probably 20 billionaires I could name that made their money outside of…

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