Michael Novogratz, the founder, and CEO of Galaxy Digital has said that he will donate most of his profits to charity when Bitcoin hits $100,000.
In a recent tweet, the popular Bitcoin proponent and permabull Mike Novogratz explained the reasons for which he got into it.
He also said that if BTC’s price reached $100,000, he would donate most of his profits to charity.
Mike Novogratz and Why He Got into Crypto and Bitcoin
One of the things that make the cryptocurrency field so interesting is the different intent of the people in it. Some are in for the gains, some are in for the technology, while others base their merits on concepts, far exceeding Bitcoin’s price.
Mike Novogratz took it to Twitter recently to explain the reason for which he’s placed such a huge bet on the nascent industry.
I got into crypto and BTC because I saw it as a revolution. It is a systems change. It’s the same reason I spend time advocating for social justice. The goals are the same. – He said.
It’s no secret that the former Wall Street hedge fund manager is one of Bitcoin’s biggest proponents and has placed a big bet on its appreciation and adoption. He’s founder, chairman, and the acting CEO of Galaxy Digital – a diversified financial services and investment management company with a focus on blockchain technology, digital assets, and cryptocurrencies.
Despite his well-known bullishness on Bitcoin and his bold predictions, Novogratz has remained somewhat reasonable, given the asset’s volatility. As CryptoPotato recently reported, he said that:
My sense is Bitcoin way outperforms it (gold), but I will tell people to have a lot of less Bitcoin than they have gold, just because of the volatility.
Bitcoin and Charity: Donating Most of the Profits
Commenting on the most recent tweet of Novogratz was a user, asking if the former Wall Street veteran will donate all of his profits to charity, given that Bitcoin hits $100,000.
To this, Novogratz responded that he will donate “most of it.”
This comes a day after the CEO of Coinbase, the leading US-based cryptocurrency exchange, outlined that the company shouldn’t “advocate for any particular causes or candidates internally that are unrelated to our mission because it is a distraction.”
Earlier today, Jack Dorsey, the CEO of Twitter, responded that the whole purpose of the cryptocurrency field is social activism, openly disagreeing with Armstrong. Dorsey noted that the popular exchange shouldn’t ignore issues of the kind, as it could leave customers behind.