Novogratz says bitcoin, other cryptocurrencies a fraction of global wealth


Billionaire bitcoin bull Mike Novogratz said Wednesday that the cryptocurrency industry remains in its early days, as he predicted the wealth it generates will continue to proliferate in the years ahead.

“Right now, total crypto wealth is roughly $2 trillion, so that’s one half of 1% of all wealth,” Novogratz said on CNBC’s “Squawk Box.” “If you don’t think in the next two to three years that can be 2% to 3%, you’re not paying attention to the trends.”

Global wealth is estimated at around $400 trillion, according to a Credit Suisse report from October.

The entire market capitalization of cryptocurrencies is a little over $2 trillion as of Wednesday, according to data compiled by


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