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Mike Novogratz is showing confidence in his company, Galaxy Digital Holdings. The company's founder and CEO purchased an additional 7.5 million shares of common stock for $ 7.42 million (US $ 4.8 million).
Galaxy Digital is a merchant bank of cryptocurrency that invests primarily in Bitcoin Core (BTC) and Ether (ETH).
The announcement came from a Galaxy Digital press release of December 31, 2018. With this new investment, Novogratz increases its ownership of the company from 76.6% to 79.3%.
We reported for the last time Mr. Novogratz in June 2018, when he invested in AlphaPoint, a criptovalute startup. Even then, when the cryptocurrency market was already slowing down, the CEO of Galaxy Digital saw positive indicators in job openings, in talent in the sector and in investments, which gave him confidence in his bet. The market value has not improved, but this reinvestment shows that Novogratz still has confidence in the fundamentals of cryptocurrency.
This is despite Galaxy Digital having recorded large losses in 2018. At the end of November, the company reported that losses up to that time amounted to $ 175.68 million. At the time, Novogratz had said "Q1, Q2, if institutions start coming, [cryptocurrencies] new records. "Now we are in the new year and this new investment comes at the same time that Novogratz expected the market to start spinning.
Now that we are on the tenth anniversary of the Bitcoin genesis block, and Bitcoin has been reborn in Satoshi's original vision as Bitcoin SV (BSV), we can expect that there will be a lot of growth for the only coin that scales massively for satisfy commercial requests and public adoption.
BSV is the only coin that has already reached the 65 MB blocks, with the biggest ones to come, and has been specifically built to be business-friendly and ready for mass adoption. If the market starts spinning as Novogratz expects, it is a safe bet that BSV will be a big winner as investors and users will begin to take notice.
