Crypto billionaire Mike Novogratz now owns a CryptoPunk

Crypto billionaire Mike Novogratz has revealed that he now owns a CryptoPunk and will be starting a “$GLXY NFT collection” to accompany his first public purchase.

The CryptoPunk is his first move into an emerging sector – NFTs – and also shows that he is aware of the leading ‘blue-chip’ collections in the space, which includes Punks and Bored Ape Yacht Club.

Novogratz purchased Punk #8466 for 98.5 ETH ($440k). It remains his only NFT purchase so far according to his wallet.

We started a $GLXY NFT collection. And yes, finally bought a punk! pic.twitter.com/CkyivRKix9

— Mike Novogratz (@novogratz) November 5, 2021

The crypto community is now eagerly waiting to see what NFTs Novogratz will add to the newly-formed “$GLXY” NFT collection.

Interestingly, Novogratz has yet to change his Twitter profile picture to the Punk – a now established Twitter tradition in the NFT space.

CryptoPunks are starting to attract serious investors and capital to the NFT space due to the high price-tags attached to a Punk, the status that comes with owning one and the opportunity to build a brand around your NFT.

Other prominent investors, such as ‘Wolf of Wall Street’ Jordan Belfort, have also moved into NFTs following high-profile Punk purchases in recent weeks.

Novogratz, CEO of Galaxy Digital (GLXY) – the “bridge between the crypto and the institutional worlds” – has been a recent advocate for digital assets and cryptocurrencies.

He spoke recently at NFT NYC  about how NFTs can impact the worlds of film and entertainment, where he revealed that he was “talking about NFTs in 2014”, suggesting his purchase has been a long time coming.

Galaxy’s digital asset arm, ‘Galaxy fund management‘, offers investors diversified and single assets crypto funds including a ‘DeFi index fund’ and Bitcoin and Ethereum funds.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

Source: https://coinrivet.com/crypto-billionaire-mike-novogratz-now-owns-a-cryptopunk/