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Alternative Market Briefing

Bitcoin glittering brighter for some Wall Street executives

Tuesday, April 10, 2018

Komfie Manalo, Opalesque Asia:

The glitters of bitcoin and cryptocurrencies attract a handful of Wall Street executives as many of them are joining the crypto world for better opportunities.

Hedge fund manager and digital currency investor Mike Novogratz has lured Richard Kim from Goldman Sachs as his new chief operating officer for Galaxy Digital, the merchant bank he created that will focus on virtual currencies, reports CNBC.

Kim, a former executive director in Goldman's London office, is reuniting with his former colleague, Luka Jankovic, who used to be a hedge fund analyst in the bank before joining Galaxy Digital.

Kim and Jankovic are just two of several high-ranking Goldman Sachs executives who have entered the digital currency world.

In January this year, former Goldman Sachs executive Michael Bucella was hired by Blocktower. Ex Goldman vice president Matt Goetz founded BlockTower in 2017.

Last 2016, former Goldman Sachs managing director James Radecki left the bank to work for a startup virtual currency company. Radecki is now in charge of business development at one of the largest digital currency trading firm Cumberland Mining.

Novogratz is optimistic about Bitcoin's future, predicting that the digital coin will rebound to $40,000 at the end of this year. Bitcoin peaked to nearly $20,000 in December 2017.......................

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