Michael Novogratz is the founder of the Fortress Investment Group. His total fortune is estimated by Forbes to be at least a billion in 2007 and 2008.
Novogratz recently claimed to have invested 10% of his money into cryptocoins Bitcoin and Ethereum.
Novogratz was one of the first ones to buy Ethereum, back when it was still $1 a pop. At the time of writing, Ethereum trades at $50 a pop, yielding Novogratz a really respectable 50x ROI.
Last wednesday, he discussed his outlook on cryptocoin in general when having a talk at the Harvard Business School forum, according to CNN Money.
He called his investment in Ethereum one of the best investments in his entire life.
So how come Michael Novogratz managed to buy loads of Ethereum so early on?
Because of one man: Vitalik Buterin.
Buterin is a truly gifted, Russian born genius, who recognized Bitcoin’s potential early on and made well over a million bucks on his investment in it.
Buterin and and Novogratz had a talk over a dinner, and Novogratz was immediately impressed with Buterin, Ethereum’s founder.
Why did Buterin found Ethereum? Because he recognized Bitcoin’s potential and wanted to create a better currency.
Bitcoin is currently the most popular cryptocoin. But some say Ethereum might one day take its place, because it doesn’t suffer from Bitcoin’s flaws.
Listen to Vitalik Buterin explaining Ethereum here:
These videos are a unique opportunity to pick the brain of a certified genius.
Don’t pass up on this opportunity to learn more about ethereum!
Photo credits: acumenfund/flickr.