Billionaire Mike Novogratz reveals that crypto makes up 85% of his wealth – and says ether can surge another 23%

Billionaire Mike Novogratz reveals that crypto makes up 85% of his wealth – and says ether can surge another 23%

Galaxy Digital Holdings founder and CEO Mike Novogratz recently revealed that cryptocurrencies make up 85% of his net worth, translating to a staggering $4.8 billion. The billionaire told Thursday that while he has had other investments - including a mushroom company and a chicken company - he couldn't pass on the chance to invest in cryptocurrencies. "It's just that cryptos had a move that is a once-in-a-generation move," he told "And I think people should understand that it's not going to keep happening over and over. Like this idea that we've gone from not-an-asset-class to an asset class only can happen once." It's unclear if the billionaire plowed more money into his initial stake or if his current investments just grew. As of March 2021, Novogratz is worth around $5.67 billion according to the making him the 495th richest person in the world. Most of his wealth came from his stake at New York-based Galaxy, a cryptocurrency-focused merchant bank. Novogratz has long been a cryptocurrency enthusiast, although he is a bit more selective with his picks compared to other vocal advocates. For instance, he recently , calling its surge "bizarre." "This wild acceleration that we're seeing, where things are up