The world’s movers and shakers have taken notice of Bitcoin and its possible uses.Like any new technology, it has taken time for people to become familiar with its use in everyday life, business, and economic paradigms.Now, some of the wealthiest people are turning to Bitcoin as a vehicle for investment.Bitcoin enthusiast and billionaire Michael Novogratz was recently interviewed when attending an event held by the Harvard Business School Club, and he said that fully ten percent of his wealth is invested in Bitcoin and in Ether.This is significant when you consider that Novogratz is worth an estimated $2.3 billion.Novogratz also went on the record saying that Bitcoin was the best investment of his life.He quipped that in 2013 he had spoken to its investment potential and that people had laughed at him.He now predicts that the currency will trade at $2,000.It is currently valued at $1,200.Given Bitcoin price fluctuations, Novogratz advises others to diversify their holdings.He also clearly takes the long-view approach to increasing his assets through investing.

Key to his belief in Bitcoin as a growing market is its burgeoning growth in third world nations.bitcoin to pound graphIn Zimbabwe, where the currency has suffered from hyperinflation, economists have suggested Bitcoin as a viable alternative.bitcoin chart in poundsThis is because the country has adopted a system that involves multiple currencies, creating massive confusion and fees for transferring funds back and forth.ethereum stock price coinbaseAs confidence in the banking system drops to an all-time low, consumers have expressed a greater faith in the Bitcoin blockchain system than in other solutions.bitcoin backup walletIn addition, they save a tremendous amount of money when sending and receiving funds.litecoin payment button

The transfers take place quickly, and people do not need to stand in long lines waiting for banks to process their transactions.abc bitcoin poolIn Nigeria, it has been reported by the nonprofit organisation supported by the Bill and Melinda Gates Foundation, Enhancing Financial Innovation and Access, that just 36% of people have access to a bank or the services that it would offer.bitcoin hash poolThe people often use what are called micro-finance institutions or MFIs to move money from one place to another.exchange litecoin for cashDuring a six-month period in 2014, it was found that over 17 million transactions took place this way, and Bill Gates has spoken about the currency’s value in helping underdeveloped nations to thrive.bitcoin mixer scam

He has referred to Bitcoin as a ‘technological tour de force’, and he has also gone on the record as saying that, ‘Bitcoin technology is key’.Bitcoin can be transferred on a peer-to-peer basis, person to person without going through traditional banks, while also being secure and transferable to someone living in a different country.It is affordable, and the world market is just awakening to its uses.The sheer number of people that could be easily connected to the global economy through an internet connection is staggering.This is why billionaire Michael Novogratz is putting his money in Bitcoin.Wirex makes the quick transfer of Bitcoin easy and inexpensive and can be a force for good in developing nations that are looking for currency solutions.With just an internet connection, people can use Wirex and trade with people all over the world.Bitcoin is still in its early stages as a currency, and it is continually seeing new uses.Recent innovations include an entrepreneur who is working on creating the very first Bitcoin cash machines that are due to open in Cypress and in Los Angeles, and it has revolutionised the world of online gambling, both of which can work only to increase its value.

The cryptocurrency’s proclivity as an investment tool is not simply limited to those in the upper echelons of the business world.Put simply, the fact that the very wealthy have taken to using the currency as a way of storing wealth bodes well for those who have some extra money and who like to think ahead, no matter what their current economic situation is.A former principal at Fortress Investment Group claims to have invested 10% of his overall net worth into cryptocurrencies.Speaking at a Harvard Business School forum on Wednesday, Michael Novogratz discussed his outlook on blockchain and digital currencies, according to a report by CNN Money.Participating on panel that included representatives from Microsoft and CME Group, Novogratz said he has invested in both bitcoin and ether, the cryptocurrency that powers the ethereum blockchain, calling the moves the "best investment" of his life, the report said.CNN further detailed how Novogratz said he invested in ether when it was trading for just $1, having been impressed by ethereum founder Vitalik Buterin at a dinner party held at his home.

According to CoinDesk's Ether Price Index, the cryptocurrency was trading at around $48 at the time of publication.While such outsized statements may seem unusual from a financial industry veteran, Fortress Investment Group was actually one of the earliest firms to show an interest in the sector, investing into a $150m hedge fund called Pantera Capital in 2014.Novogratz was notably involved in the early formation of the group, according to reports at the time, serving as co-chief investment officer of Pantera Bitcoin Partners, the fund managed by Pantera Capital.He would later step down from his position as CIO of the Fortress Macro Fund, which represented roughly 3% of the firm's total assets under management, at the time it was closed.Correction: An earlier version of this article mistakenly referred to Novogratz as the founder of Fortress.This has been revised.“It is the best investment of my life” said billionaire Mike Novogratz at an April 19 Harvard Business School Club of NY event, where he announced that he holds ten percent of his net worth in cryptocurrencies like Bitcoin​ and Ethereum.

Mike Novogratz was the Chief Investment Officer of the Fortress Macro Fund, and a principal and member of the board of directors of Fortress Investment Group LLC.Novogratz joined Fortress after a decade long tenure at Goldman Sachs.He featured on the Forbes billionaire list in 2008.While clearer revelations on his investment in cryptocurrencies​ have come out now, his interest in cryptocurrencies isn’t new.He has been advocating for Bitcoin as a good investment since 2013.Bitcoin’s journey has been incredible.It started trading at around $0.0007 per bitcoin in the beginning of 2009 and about two years later, it hit parity with the dollar.While the year 2013 saw Bitcoin's​ potential, it displayed its massive volatility.Even 2014 remained volatile but it was milder.In 2015, there was recovery and gradual uptrend which continued through 2016.The year 2017 has been exceptionally good for Bitcoin which crossed the $1,300 mark for the first time.Mike Novogratz now predicts it to go past $2,000.

Mike Novogratz has invested in Ethereum (ETH) as well.He made his investment when it was trading at $1.Today, its trading around $69, and is the second largest cryptocurrency by market capitalization.(Related reading, see: The 6 Most Important Cryptocurrencies Other Than Bitcoin) Mike Novogratz isn’t the only billionaire supporter of Bitcoins and other cryptocurrencies.Patrick M. Byrne can be called a bitcoin enthusiast., with $1.3 billion in revenue then, would accept bitcoins.Overstock became the first large retailer to accept Bitcoin, going live in January of 2014.Then we have Tim Draper, founder of Draper Associates – a seed-stage venture capital firm – has been investing in Bitcoins (ad now Ether) too.He ranked #98 on the 2014 Worth Magazine 100 Most Powerful People in Finance.( Announces Rights Offering on Blockchain Platform) The rising awareness, acceptance by governments and rising adoption are supporting Bitcoin’s price movement which is motivating people to invest.