NEW YORK: Billionaire investor Mike Novogratz said he’s bought Facebook Inc stock to benefit from crypto’s ascent and is also shorting the five-year Treasury as a hedge against policymakers pulling back monetary support.
“I’m short a lot of interest rates, ” Novogratz, chief executive officer of Galaxy Digital Holdings Ltd, said in a Bloomberg Television interview. “To me, being short the five-year part of the yield curve is a great hedge for any portfolio, crypto or non-crypto.”
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
