Mike Novogratz Wants to Bring Bitcoin to the 1% With New Funds

From bloombergquint.com

Michael Novogratz’s Galaxy Digital Holding Ltd. is starting two Bitcoin funds for accredited and institutional investors with a demographic profile that hits close to home. The 54-year-old billionaire is targeting “the wealth of America,” or people between 50 and 80 who may have stayed largely on the sidelines of cryptocurrency investing, Novogratz said in a phone interview. Bitcoin investors have tended to be younger and more tech savvy, though the under-35 crowd in the U.S. has seen its share of wealth decline. The top 1% of the country’s wealthiest now control 40% of assets, according to a 2017 study. ... (full story)