Galaxy Digital founder and CEO Mike Novogratz is encouraging buyers to commit a bigger proportion of their portfolios to crypto.

In an interview with CNN’s Julia Chatterley at this time, Novogratz stated he had “modified his tune” on earlier recommendation that buyers ought to allocate roughly 1% of their web price to Bitcoin (BTC) and different cryptocurrencies. The CEO has stated as just lately as November that folks ought to make investments as much as 3% into BTC and HODL for 5 years.

“I feel a brand new investor may put 5% into Bitcoin,” stated Novogratz. “Bitcoin’s not going again to zero […] It may definitely commerce again to $14,000 — you could possibly lose 30-40%, however you’re not dropping 80-90% of your cash.”

Novogratz stated these numbers have been primarily based on the “stability surrounding Bitcoin,” including that the coin was “fulfilling its position as digital gold” with a retailer of worth. The CEO additionally stated he believes Bitcoin volatility will “come decrease.”

The Galaxy Digital CEO has an estimated web price of $700 million. When Chatterley pressed him to place a quantity on his investments, Novogratz stated his “total crypto publicity might be 50%.”

Novogratz has additionally advocated investing a minimum of a few of one’s web price in Ether (ETH), whereas stating the token had “a enterprise flare to it.” He hedged his bets on different altcoins, saying that some would have “a variety of worth” sooner or later, whereas others would not. 

Novogratz is well-known for his distinguished Bitcoin plugs. In November, he predicted the value of Bitcoin would go “to 20K after which To 65K.”