Anjali Sundaram | CNBC
(This story is for CNBC Professional subscribers solely).
Billionaire investor Michael Novogratz’s huge bets on gold and bitcoin have paid off in current weeks, and the veteran investor mentioned Tuesday that each asset courses nonetheless have room to maneuver increased.
Because the begin of July, the price of gold has jumped greater than 7% to succeed in new highs, whereas bitcoin has climbed greater than 20%. Novogratz, the founder and CEO of Galaxy Digital, mentioned on “Squawk Field” that he believed retail merchants had been pivoting from tech stocks to gold and bitcoin, which might assist gas extra beneficial properties for these investments.