Mike Novogratz, the CEO of Galaxy Digital said that an influencial institutional investor has invested in Bitcoin Hedge Fund, during an interview with CNBC Fast Money. The Founder, however, has not revealed who the institutional investor is but has stated that they are one of the most influential ‘endowments’.
He further stated that the ‘influential endowments’ has not made the announcement yet and according to him, this is going to be an important information. He said that there is going to be an institutional FOMO just like the retail FOMO.
According to Novogratz:
“So I do think that Bitcoin is going to outperform for a while and I am not a Bitcoin maximalist but everyone who is talking about institutional investors is going to start with Bitcoin.”
He further stated that all the institutional investors projects are going to start with Bitcoin because it is a store of value and because people know about the brand and it is easier to value Bitcoin.