Quote from: wasserman99 on October 24, 2013, 07:36:13 PM

Quote from: Newscastix on October 24, 2013, 07:27:23 PM

Quote from: bobdude17 on October 24, 2013, 06:41:19 PM

Novogratz endorses bitcoin! Shocked

http://www.bloomberg.com/news/2013-10-24/fortress-s-novogratz-says-bitcoin-will-be-worth-a-lot-.html

Biggest news all week.. together with the Winklevoss Bitcoin Trust filing.

who is this person? someone important?

A top hedge fund manager. Probably the most prominent person in the financial industry to endorse bitcoin to date.

This all really makes me think of Trace Meyers post a little while back:

Quote from: sunnankar on August 31, 2013, 08:19:17 PM

Quote from: FNG on August 31, 2013, 02:52:44 PM

Quote from: sunnankar on August 31, 2013, 02:46:27 PM

I have been in NYC the past two weeks working on several very significant Bitcoin related projects.

Any chance you can elaborate? Also - Will you be posting to your blog anytime soon?

Wish I could.

Just wait for the news, serious journalists like the WSJ have already been getting briefed but cannot write about it yet, which should come out around the last week of September. Additionally, this fall there will be probably 6+ 'big names', like Richard Bove or Chamath Palihapitiya [starting at 19:15], in the investment community that will come out in favor of Bitcoin and that will cause a lemming like effect.

And the private wealth managers out of Asia are stacking Bitcoins away as the new favorite asset class. Many of the HNWI family offices will not make an investment in the sub-$25-50m range. So, when Bitcoin melts up then it is going to be free range for a lot of these ultra-rich Asia families to move in.

If about $1m of new capital moves the price $9 then just imagine what $500m-$1B of new capital flowing into this asset class would do to the price. Especially if that $500m requires 'clean bitcoins' from a known source of funds. The making of a 'melt-up' in price to a much more fundamentally sound valuation since Bitcoins are largely undervalued given their characterstics (no counter-party risk, cannot be seized and equity based like gold).

This is going to be a wild ride this fall. So strap yourselves in and let's kick the tires and light the fires!

I bolded the part relevent to the Novogratz news.