Novogratz: Cryptocurrencies like bitcoin are ‘going to be the biggest bubble of our lifetimes’

Novogratz: Cryptocurrencies like bitcoin are ‘going to be the biggest bubble of our lifetimes’

6 years ago
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https://www.cnbc.com/2017/11/28/novogratz-cryptocurrencies-are-going-to-be-the-biggest-bubble-of-our-lifetimes.html

Former Fortress hedge fund manager Michael Novogratz told a conference Tuesday that the digital currency market will be a wild roller coaster ride full of froth and shady behavior.

"I think this [crypto] is going to be the biggest bubble of our lifetimes by a longshot," he said at the CoinDesk Consensus: Invest conference in New York. "To be fair, this is a bubble and there's a lot of fraud mixed in. We look at tons of projects. And some get funded, and they literally look like Ponzi's. There's a lot of froth and fraud in something that's exciting as this."

Novogratz: Cryptocurrencies like bitcoin are ‘going to be the biggest bubble of our lifetimes’

Nov 28, 2017, 4:33pm UTC
https://www.cnbc.com/2017/11/28/novogratz-cryptocurrencies-are-going-to-be-the-biggest-bubble-of-our-lifetimes.html >Former Fortress hedge fund manager Michael Novogratz told a conference Tuesday that the digital currency market will be a wild roller coaster ride full of froth and shady behavior. >"I think this [crypto] is going to be the biggest bubble of our lifetimes by a longshot," he said at the CoinDesk Consensus: Invest conference in New York. "To be fair, this is a bubble and there's a lot of fraud mixed in. We look at tons of projects. And some get funded, and they literally look like Ponzi's. There's a lot of froth and fraud in something that's exciting as this."