Michael Novogratz is an ex-hedge fund manager of the Fortress Investment Group and a longstanding advocate of cryptocurrency. Michael Novogratz’s Bitcoin involvement started when he bought cryptocurrency for the first time before his retirement from Fortress and becoming the CEO of Galaxy Investment Partners — a cryptocurrency investment firm. In 2012, Michael Novogratz’s net worth was about $500 million. In 2017, he revealed that 20 percent of his net worth is held in Bitcoin and Ethereum, from which he received over $250 million in profit. It is paradoxical that Michael Novogratz called cryptocurrency a bubble. However, he continues to invest in Bitcoin technology-related projects due to their high returns.