Bitcoin Bull Michael Novogratz to Donate $36 Million for Reforming Criminal Justice
Michael Novogratz, CEO of Galaxy Digital and also a Bitcoin bull, is prioritizing philanthropy efforts and helping reformation of the United States’ criminal justice system a particular focus. So far, the Galaxy Gives of Novogratz family’s philanthropic initiative has donated about $36 million for this purpose.
Last recently, Galaxy Gives was mentioned in an article by Inside Philanthropy. Accordingly, Novogratz said about a “broken criminal justice system” in the United States and many of its citizens are trapped in it.
On days crypto causes pain, I remind myself that we have 6.5mm Americans stuck inside a broken criminal justice system. Thanks to @InsidePhilanthr for helping to tell that story. https://t.co/wz0SbVRqGO
— Michael Novogratz (@novogratz) November 18, 2019
The Inside Philanthropy story described with a mission to take down the barriers imposed by “structural poverty, oppression, and racism” of Novogratz and his wife Sukey Novogratz, an author and philanthropist. He claimed,
“I thought I was generous, but looking back 10 years of giving, I recognized that I was not as generous as I thought. My wife and I, therefore, decided to give more and more. When starting digging into the criminal justice system, you will be outraged as the unfairness of the whole thing.”
In addition, the bitcoin bull lately appeared on the CNN network, talking about the American criminal justice system and the necessity of reform.
Getting real about the REAL Act! Just under half of all convicts return to prison within 3 years, yet access to college level education can reduce that stat by 43%. @novogratz explains why US prison reform makes good “economic sense” @bailproject @REFORM @galaxy_gives pic.twitter.com/oGtA5l9oy5
— Julia Chatterley (@jchatterleyCNN) October 11, 2019
So far, having more and more Bitcoin and cryptocurrency projects have focused on aiding no-profit and charitable causes. The ability that can almost instantaneously transfer funds is a real boon for such organizations.
Novogratz is not only very famous in the crypto community about his bullish stance on Bitcoin and cryptocurrencies but also his work through Galaxy Digital. He also gained some attention for dismissing the worries of the rich people when Elizabeth Warren, US presidential candidate proposed a “wealth tax” aimed with billionaires.
— Squawk Box (@SquawkCNBC) October 24, 2019
Novogratz is a firm believer in both Bitcoin and Ethereum. He was affirmative that Ethereum was the most powerful Web 3.0 platform and even “surpassed Bitcoin” in Ethereum Summit this year. On the other hand, Novogratz still has a positive view of Bitcoin, even going so far as to say that it has established itself as a store of value.