Fortress’s Novogratz says bitcoin is in ‘inning 3 of a 9 inning game’
November 11, 2013, 11:37 AM

Michael Novogratz, principal and director of Fortress Investment Group LLC FIG 0.00% , says bitcoin is just heating up.

He made headlines after praising the virtual currency at a conference in late October, adding that he had bought bitcoins a few months before, according to reports. His remarks came as bitcoin pushed above $200 on the trading exchange Mt. Gox. Bitcoin has since made a run on $400, fetching $372.30 Monday morning on Mt. Gox. Bitcoin has a fixed supply and is created through a cryptographic process called mining. http://blogs.marketwatch.com/thetell/2013/11/...ning-game/