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| Category | Investor |
Biography:
Michael Novogratz is a billionaire cryptocurrency investor who has been involved in the industry since at least 2013. He is widely known in the cryptocurrency community as founder and CEO of Galaxy Digital Holdings, a crypto investment firm launched in 2018. He previously served as its chairman as well but stepped down from the role in late 2021. Prior to moving into cryptocurrency investment, he was a hedge fund manager at Fortress Investment Group and partner at investment bank Goldman Sachs. Novogratz’s net worth is estimated to be in the billions of dollars.
Novogratz’s 2021:
2021 was a big year for Novogratz and Galaxy Digital, with the company continuing to aggressively expand its services and become involved in new industries. In January, Galaxy Digital launched two new forays into the Bitcoin mining sector, launching its own mining operations and rolling out a new business focused on financial services for miners.
Galaxy Digital also made a massive acquisition in May with its purchase of BitGo, a major crypto custodian and wallet operator, for $1.2 billion. The company also actively worked to roll out new indexes in 2021, launching eight crypto-focused blockchain indexes with Alerian and S-Network Global Indexes. Additionally, the firm was included in major industry-focused exchange-traded funds, including a blockchain-focused ETF from Russian state-owned bank Sber.
Novogratz remained an active community member in 2021, participating in major industry events, including the Bitcoin 2021 conference in Miami, alongside regularly posting on Twitter to offer remarks on crypto and fintech. In May, the investor took to social media to blast United States politicians and regulators for their lack of understanding of cryptocurrency and their negative sentiments toward it, urging officials to do their homework before devising policies to regulate the industry.
Novogratz, who is one of the biggest cryptocurrency investors, was featured among six billionaire crypto investors by business magazine Forbes. In May, He claimed to hold up to 85% of his net worth in crypto, which was about $4.8 billion at the time.
Novogratz’s 2022:
Novogratz’s Galaxy Digital is expected to continue expanding its services in 2022 and acquiring more crypto businesses. It is also worth anticipating Galaxy Digital’s move to become a publicly traded company in the United States, which it plans to do in the first quarter of 2022, subject to approval by the U.S. Securities and Exchange Commission.
Novogratz will likely remain engaged in raising awareness about crypto and blockchain as well as working with global regulators to drive crypto adoption among the masses this year. He said that his New Year’s resolution for 2022 is to “explain to the progressive leadership in Congress that crypto is actually progressive.”
Novogratz is also expected to make new bold crypto predictions in 2022, as the investor is known for going out on a limb when it comes to placing a number on the future price of Bitcoin. In 2020, Novogratz predicted that Bitcoin would end the year above $20,000, which turned out to be an understatement, with Bitcoin nearing the $30,000 price mark by the end of the year. At the end of 2021, he predicted that 2022 will be the year of decentralized finance.