TechFlow news — Mike Novogratz, founder of cryptocurrency firm Galaxy Digital, shared his views in a Bloomberg Wealth interview on the ideal investment portfolio for young investors with high risk tolerance. He said he would invest in Chinese tech giant Alibaba, silver, gold, bitcoin (BTC), and ether (ETH).
"If they're young and have high risk tolerance, I'd buy Alibaba stock. I'd buy silver, gold, bitcoin, and ether. That would be my portfolio," he said, referring to someone investing $100,000. For investors with lower risk tolerance, he suggested allocating only 30% of the portfolio to these assets in this scenario, with the remaining 70% invested in bonds or index funds.
Novogratz's bullish outlook on bitcoin received a boost after BlackRock filed in June this year to launch a spot bitcoin exchange-traded fund (ETF). In his view, this filing was the most significant bitcoin development of 2023.
