BTC - Novogratz is trying to get your parents to buy BitcoinsteemCreated with Sketch.

in bitcoin •  8 months ago  (edited)

Mike Novogratz launched two new funds targeting the older generations

Mike Novogratz is a big fan of bitcoin and crypto.

He's a former Goldman Sachs VP billionaire that has been working hard trying to bring crypto to the masses.

His latest steps might just do the trick.

He is launching two new crypto funds that he says are going to be targeting people between the ages of 50-80, people that have all the wealth and likely never invested in bitcoin or crypto before.

Some specifics...

Novogratz is launching the Galaxy Bitcoin Fund and the Galaxy Institutional Bitcoin Fund.

The Bitcoin Fund will require a $25k minimum investment and funds will be available on a quarter by quarter basis.

The Institutional Bitcoin Fund will have a higher minimum but funds will be available weekly.

The big selling point here?

Both funds are said to have lower fees than the Grayscale Bitcoin Trust (GBTC), which charges a 2% management fee.

The funds are said to be seeded with Novogratz's own money as well as new investors.

More of the specifics can be found here:

Targeting that "old money"...

Novogratz himself is over 50 and thinks there is a huge untapped market in that age range.

As of now, the average age of a bitcoin/crypto investor is 18-34 years old.

That wouldn't be so bad except a recent study said that Americans under 50 years old only account for 16% of all the investable assets. That means people over 50 are holding the vast majority of investments out there.

Not only that, but that age demographic is starting to inherit large sums of money from the previous generation, a figure that Novogratz estimated to be somewhere around $36 trillion over the coming decades.

That means that investors over the age of 50 are wealthy, about to get wealthier, and are exactly who he wants to be targeting.

Hopefully for all our sakes he is massively successful.

Go get em Mike!

Stay informed my friends.

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I hope it's not humor

Posted using Partiko iOS

Nope. Check out the details. He's targeting the wealth of America.

About BTC, I'm a little scared that it goes down to $ 3,000 again.

I would be shocked if it went below $6k... ever again.

he is probably one of the best people to get the older generation involved and i hate bankers but he is one of the more honest ones
there are others but they are far and few between bud
have a great day JR and really liked this article and i just turned 50 last december so i guess i would be in his group lol
i dont need his help though but tens of millions do

Yep, well said. He is one of the few billionaires I have seen talk about giving back his money, ok with higher tax rates (for the 1%), and says we need to reform our capitalist society as it now is benefiting too few.

the problem is capitalism made america great and we dont have true capitalism only for the elite
for the rest of us its socialism and communism
world war two was russia communism and germany mazism
today is the USS of A communism and china sis naziism
and as for giving his money away its his choice not like the govt telling you that you have to give your money away
russia is more true capitalism than the USS of A
thats a scary thought except that it isnt a thought its reality
they are following saul alinskys rules for radicals
pure evil urasoul
i long for the days of capitalism for the people
everyone knows teach a man to fish instead of giving it to him feeds his whiole family which is better than giving him a fish for one day
so why are the govts giving people money instead of teaching them to mae it
such a shame really and very dissapointing and depressing
cheers my friend and keep up the good work
although i thin the majority wil wake up when its too late
i am a firm believer to be two years early instead of one day late

Yep, and overall that's a great way to think about things. A day late and you might as well be years late.

its a shame most people do not understand that but they are taught in schools media and govt to get in when everybody is onto whatever they are telling you i bought british petroleum about six months after the oil spill cause everyone sold and and i more than doubled my money ion less than a year
but if i listened to the media i would never ever have touched that company
for it to get like how it is now with people asking govts for everything did not happen overnight
our ancestors would not ask the govt for absolutely nothing but protection of the country since they knew what government was now we ask the govt for everything and when they help us they make things way way way worse
at least some of us are away urasoul
by reading your things for a while at the beginning i thought you were a democrat for the way you write and say things but from all your reading i see you want to help and awaken people like me
i am not a liberal or conservative they are the same shit
i am probably a libertarian anarchist or volantaryist and maybe a mixture of all three
have a great evening and thanks for replying

i forgot to ask have you ever heard of egon von greyerz
ive been reading him for a very long time and i have yet to see him proven wrong about anything
his timing might be off but he is never ever wrong
doug casey and bill bonner are legends but even they are wrong occassionally
bonner with agora publishing has more viewers than FOX CNN and CNBC put together that alone should tell people something
k sorry for ranting on and take care JR and be safe bro

I have subscribed to Agora Financial in the past, is that what you are referring to? I can't say I have heard of that guy before though... do you have a link?

here is a little interview with egon and nope that is not agora but bill bonner is agora publishing

Well damn... If they do.. They better buy me some STEEM aswell

Hopefully once communities and SMTs fully launch we see a lot more demand for steem. I am hopeful that there will be.

That would be very nice... I should try gather more SP before the demand rises.

Also what's your thoughts on the esteem points... It seems pretty legit but I think it could be easily manipulated

I honestly know nothing about esteem points. Your question is the first I have even heard of them. :)

Ok haha I didn't think of this... The esteem points you get when using the mobile app.. Etc.. Sharing a post gives you 5 esteem... Upvoting a post gives you 1 esteem... 100 steem power in delegation gives you 1 esteem point per day... And the esteem points you can use to boost your posts

This is good news for Bitcoin and crypto going mainstream, and crucially, it helps with getting more liquidity and adoption. Getting more people into crypto is always good news, especially amongst the wealthy that have plenty of money to spend, and an excess of influence.

Yep. I think he is targeting the right demographic. Get em to put 1-2% in their portfolios as a hedge. Bitcoin moons even that small allocation.