Mike Novogratz Has a Theory About How Institutions Enter the Bitcoin Ecosystem
Mike Novogratz wants Bitcoin to be successful. This is no secret, as he owns Galaxy Digital, a company that offers crypto investments to wealthy people. Now he has a theory on how to get more institutions investing in the asset. He believes that targetting to wealthiest of all Americans, the baby boomers are a good idea.
According to the CEO of Galaxy Digital, elderly people tend to shy away from assets that are considered more speculative, which is why they are not so eager to invest in Bitcoin as Millenials, for instance. Now, he wants to change that with his new products, two crypto funds that cater to these specific investors.
A new piece of research made by CoinRadar shows that over 70% of all people with 55 years or more don’t really own Bitcoin or want to do it. As they hold most of the money and the current generation is at least 12 times poorer than them, they are the most interesting investors for companies such as Galaxy Digital.
Novogratz understands that a lot of billionaires are into crypto right now and believes that more Wall Street investors will move into this new market, but to him, the main point is to get baby boomers more interested in Bitcoin.
It is important to understand their realities and how they can be interested in the asset. This way, a whole new way of investments will be open to the company and these two new funds that were created are just the first step for that.