Former Fortress Principal Michael Novogratz left the firm's colossal macro hedge fund almost two years ago, but has been discussing investments in virtual currencies since 2013 when he told a UBS conference...

"Put a little money in Bitcoin...Come back in a few years and it's going to be worth a lot."

He was of course correct, Bitcoin was trading around $200 at the time and as recently as two weeks ago was worth $3000.

But today, Bloomberg reports that at the CB Insights Future of Fintech conference in New York, Novogratz told attendees that he has cut holdings (in Bitcoin and Ethereum) after the cryptocurrencies' latest "spectacular run," warning that "Euthereum had likely hit its highs for the year," and "cryptocurrencies were likely the biggest bubble of his lifetime."