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- Billionaire Mike Novogratz would put $100,000 in Alibaba stock, silver, gold, ether, and bitcoin.
- That advice is for young and risk-tolerant investors, he told David Rubenstein on Bloomberg TV.
- But for more risk-averse investors, Novogratz said they should mainly focus on bonds.
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 those who aren't.
"If they were young and had a high risk tolerance, I'd be buying Alibaba stock. I'd be buying silver, gold, bitcoin and ethereum. That'd be my portfolio," the Galaxy Digital CEO said in an interview with David Rubenstein on Bloomberg TV.
For the risk-averse, Novogratz suggested his strategy make up about 30% of their investments, with the rest going into bonds and possibly 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 on 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 ETF. Novogratz said BlackRock CEO Larry Fink's embrace of the crypto token has ushered in renewed enthusiasm, which could help push bitcoin to new all-time highs.
Similarly, Fundstrat said last week that a bitcoin ETF from BlackRock could drive a boost in daily demand for the crypto token, sending 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 months, especially as gold flirted with a new all-time high during the US debt-ceiling standoff.
A World Gold Council report on Tuesday said central bank purchases have slowed but continue, while demand from the jewelry sector is robust.
Silver has benefitted from the rally in gold and 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 have assets wanes.