In December 2017, when the price of Bitcoin was at its all-time high, Wall Street trader and hedge fund manager Brian Portnoy bought in. He put 10 percent of his net worth into the cryptocurrency.
“I’m all-in on Bitcoin,” Portnoy said at the time. “I don’t know how much lower it can go from here, but I do know that it will go up from here.”
Portnoy’s bet paid off – for a while. The price of Bitcoin surged to nearly $20,000 in December before tumbling back down to around $3,000 by the end of 2018.
But despite Bitcoin’s wild price swings, Portnoy has stuck with his investment. In fact, he’s even doubled down.
Earlier this year, he revealed that he had put another 5 percent of his net worth into Bitcoin. .
Why? Because Portnoy believes that Bitcoin is the future of money.
NOTE: WARNING: Investing in Bitcoin is a risky venture. Any investment in Bitcoin could potentially lead to significant losses and should be made with extreme caution. This is particularly true for individuals with limited financial knowledge and experience, as the potential for loss is high. When considering whether or not to invest in Bitcoin, it is important to understand the risks involved. Please make sure you have done your research and are aware of all potential risks before deciding whether or not to invest in Bitcoin.
“I truly believe that Bitcoin is to money what the Internet was to information,” he said in a recent video post on Twitter. “It is going to change everything.”
Portnoy is far from alone in his bullishness on Bitcoin. Some of the smartest minds in the investing world – including hedge fund manager Bill Miller and venture capitalist Tim Draper – have also invested heavily in the cryptocurrency.
The reason? They believe that Bitcoin has the potential to become a global currency used by billions of people around the world.
Right now, there are only about 40 million people using Bitcoin. But as more and more people catch on to its potential, that number is sure to grow exponentially.
And as it does, the price of Bitcoin is likely to skyrocket even higher than its current all-time high.
So does Portnoy own Bitcoin? Yes – and he thinks you should too.
10 Related Question Answers Found
As the first major retailer to accept Bitcoin, Overstock.com was once at the forefront of the cryptocurrency revolution. But does Overstock own Bitcoin now? The answer is a little complicated.
When it comes to cryptocurrency, there is a lot of speculation about who owns what. For the most part, the ownership of coins is pretty transparent. However, there are a few exceptions.
As of early 2018, ARKW does not own any Bitcoin. This is because ARKW is an actively managed ETF, which means that the fund managers make the decisions on what assets to buy and sell. So far, the managers of ARKW have not decided to invest in Bitcoin.
Michael Burry, the hedge fund manager who famously predicted the subprime mortgage crisis, is now turning his attention to cryptocurrency. In a recent interview, he said that he has been buying Bitcoin, calling it “the best investment of his life.”
While Burry’s exact investment size is unknown, his comments have sent shockwaves through the financial world and caused many to wonder if they should be buying Bitcoin too. So, does Michael Burry own Bitcoin?
In recent years, Bitcoin has been on the rise as a popular digital currency. Many online retailers have started to accept Bitcoin as a form of payment, and Overstock is one of them. Overstock is an online retailer that sells a wide variety of items, ranging from furniture to electronics.
Charles Hoskinson is an early investor in Bitcoin and the founder of Cardano, a blockchain platform for smart contracts. He is also a co-founder of Ethereum. While Hoskinson does not disclose how much Bitcoin he owns, it is safe to say that he is a significant holder.
Riot Blockchain, Inc. (NAsdaQ: RIOT) (the “Company”) announced today that it has entered into a definitive agreement to sell its entire stake in Coinsquare Ltd.
(“Coinsquare”), a leading cryptocurrency trading platform for fiat-to-crypto and crypto-to-crypto trading, for $100 million in cash. The Company also announced that it has closed on the sale of 1,200 Bitcoin mining machines to an affiliate of Bitfarms Ltd. (“Bitfarms”) for $6.0 million. The machines are currently being installed at one of Bitfarms’ four existing blockchain processing facilities in Quebec, Canada and are expected to be fully operational by early March 2020.
When it comes to Bitcoin, there are a lot of theories out there about who owns it and who doesn’t. One of the most popular theories is that the Rothschild family owns Bitcoin. But is there any truth to this theory?
George Soros is a world-renowned investor, hedge fund manager, and philanthropist. He is also the chairman of Soros Fund Management LLC. Since 1969, he has been engaged in managing funds for clients.
Elon Musk is the founder, CEO and CTO of SpaceX, co-founder of Tesla Motors, and chairman of SolarCity. He is also the founder of The Boring Company, a tunnel construction company. In addition, he is a co-founder of OpenAI, a non-profit research company that promotes friendly artificial intelligence in order to benefit humanity as a whole.
