[2017-12-24] ET: Bitcoin champion Michael Novogratz halts hedge fund plans

[polynesia]

Bitcoin champion Michael Novogratz halts hedge fund plans, says the cryptocurrency may drop to $8K

https://economictimes.indiatimes.com/markets/stocks/news/michael-novogratz-one-of-the-biggest-champions-of-bitcoin-halts-hedge-fund-plans-says-it-may-drop-to-8k/articleshow/62228687.cms

Michael Novogratz, the former macro manager who's turned into one of the biggest champions of bitcoin, shelved plans to start a cryptocurrency hedge fund and predicted that the digital money may extend its plunge to $8,000.

"We didn't like market conditions and we wanted to re-evaluate what we're doing," Novogratz said Friday in a phone interview. "I look pretty smart pressing the pause button right now."