- The billionaire Mike Novogratz would put money in Alibaba stock, silver, gold, ether, and bitcoin.
- That advice is for young and risk-tolerant investors, he told David Rubenstein on Bloomberg TV.
The billionaire and crypto enthusiast Mike Novogratz offered his take on how to invest $100,000 right now for investors who are willing to accept more risk and for those who aren't.
"If they were young and had a high risk tolerance, I'd be buying Alibaba stock," the Galaxy Digital CEO said in an interview with David Rubenstein on Bloomberg TV. "I'd be buying silver, gold, bitcoin, and ethereum. That'd be my portfolio."
For the risk-averse, Novogratz suggested using this strategy for about 30% of their investments, with the rest going into bonds and perhaps an index fund.
His preferred assets have made gains year to date, with Alibaba up 12%, gold 7.7%, silver 3.5%, ether 52.5%, and bitcoin 74.4%.
Despite disappointing trends in China's economy recently, Chinese stocks have rallied as investors anticipate more stimulus measures from Beijing.
Meanwhile, bitcoin has surged lately, helped by BlackRock's push to create a spot bitcoin exchange-traded fund. Novogratz said BlackRock CEO Larry Fink's embrace of the crypto token had ushered in renewed enthusiasm, which could help push bitcoin to new highs.
Similarly, Fundstrat said last week that a bitcoin ETF from BlackRock could drive a boost in daily demand for the crypto token, which might send the price to $180,000 by April.
The precious metals listed by Novogratz have also maintained a high level of investor interest in the past couple of months, especially as gold flirted with a new high during the US debt-ceiling standoff.
A World Gold Council report on Tuesday said central-bank purchases had slowed but continued, while demand from the jewelry sector was robust.
Silver has benefited from the rally in gold and the weakness in the US dollar.
But as investors see higher odds that the US economy will avoid a recession, gold prices have come under pressure as demand for safe-haven assets wanes.