“It’s not normal to make 200 times your money on things” — Mike Novogratz warned his friends to take profits after making ludicrous gains with crypto.
Mike Novogratz, the billionaire founder of crypto asset management firm Galaxy Digital has warned that making more than 200X returns on crypto investments is simply “not normal.”
“I had friends that had bought lots of crypto, and it had changed their lives — guys who didn't make a whole lot of money but all of a sudden had a $5 million net worth in crypto,” said Novogratz. He offered further caution, saying that “not everyone is made to be an investor” because greed too often gets in the way of rational thinking.
“It’s frustrating as heck because at times the whole industry looks like a bunch of idiots,” he said/
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