Investment News

Wall Street trader invests $15M in crypto exchange


Cryptocurrencies just seem to be the most lucrative investment platform for several big investors from all over the world. Mike Novogratz, who is a former Wall Street macro trader, a billionaire investor and hedge fund manager, has invested a whopping sum of $15 million in a New York based cryptocurrency firm, AlphaPoint.corp.

AlphaPoint.corp’s primary business activity includes providing assistance to institutions in setting up platforms for cryptocurrency trading and tokenising assets.

Novogratz is positive about cryptocurrencies future

In spite of the slow down in the past few months, the cryptocurrency market has been doing great so far. Novogratz has full faith in its value. Apart from the billionaire Wall Street trader, several other companies like the CME group(commodity giant), the Royal Mint of England and others.

Talking about his investment in AlphaPoint.corp, Novogratz said, “We are in early stages of fundamental transformation due to digitization of assets. We are excited to partner with AlphaPoint as we continue to help drive revolutionary change in digital markets.”

According to reports, Salil Donde(CEO of AlphaPoint.corp) plans to use the amount invested by Novogratz in the company’s expansion. His expansion plans involve, an early entry of the firm into the cryptocurrency space with functions like addition of multiple assets that can not be traded traditionally.

Before this investment, Novogratz had also partnered with Bloomberg to introduce Bloomberg Galaxy Crypto Index, a joint initiative.

Seeing all the excitement geared up by the big investors, it feels like bright days lie ahead for digital currencies. Other than Novogratz, other billionaire’s like Alan Howard are also planning to invest in cryptocurrencies.

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