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October 4, 2022
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Galaxy Digital Holdings Ltd. grows stronger thanks to the boom on the BTC market –

Investor and billionaire Mike Novogratz, who heads Galaxy Digital Holdings Ltd., said the value of assets under his management had risen to around $ 1.2 billion. This happened after the introduction of new products, including the Bitcoin mutual fund, which was established in cooperation with the Canadian CI Financial Corp.

Galaxy Digital Holdings Ltd. grows stronger

Galaxy Digital Holdings Ltd., a New York-based company listed on the Toronto Stock Exchange, said in a statement Wednesday that it expects fourth-quarter revenues of $ 325 million. As she added, the profits are to be based mainly on the increase in Bitcoin’s value. The company announced that it has so far disclosed preliminary results in which it has been taken into account “A significant change in the operating environment of cryptocurrencies and the digital sector”, since the publication of the third quarter data.

Galaxy Digital is a well-known company in the financial market that deals with asset management, trading, investment banking and other activities, with an emphasis on digital assets, especially cryptocurrencies. Novogratz has been promoting Bitcoin for years and often speaks publicly about how much the main cryptocurrency will cost in a few months and years.

For about half a year, the businessman has been celebrating. It turned out that he was right – Bitcoin entered the mainstream and the biggest investors are investing in it.

– Even in June and July last year, people were not convinced that it was a real market – He said Bloomberg Novogratz. – Now the question is how much exposure should I have [na BTC]? – added.

Novogratz also said it plans to hire around 50 people for its 126-strong team. Today, Galaxy Digital has offices in New York, Chicago, Tokyo, Hong Kong, London and Los Angeles. The company’s total market value is Canadian $ 5.5 billion ($ 4.4 billion). For comparison, a year ago it was 382 million Canadian dollars.

Cryptocurrencies have the power!

Some mainstream financial institutions, such as Morgan Stanley’s Counterpoint Global investment management unit, are considering investing in the Bitcoin market or want to make it easier for their clients.

This is another sign that cryptocurrencies remain strong Said Novogratz. – This isn’t classic FOMO as it will be an asset class for the next 50 years – added.

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