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Financial Times:Top Hedge Fund Manager gives Bitcoin Endorsement

Bitcoin CheckmarkA top hedge fund manager is reported to have given Bitcoin an endorsement of sorts, reports the Financial Times. Michael Novogratz, macro fund co-chief at Fortress Investment Group said Bitcoin could be an effective way to transmit money to countries with less-than-impressive banking systems. Not only that, but Novogratz, along with colleagues at Fortress have taken “personal positions” in the cryptocurrency.

The Financial Times report indicates that Fortress themselves have taken a look at Bitcoin, but subsequently decided it’s “too speculative” for their funds.

It’s big news for the Bitcoin community, which often struggles to get a serious look from huge financial institutions not only in the United States, but around the world.

Read the entire report here.

[via Reddit]

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