Galaxy Digital Holdings – A Good Investment for Crypto Believers

Galaxy Digital Holdings Ltd. is a multi-service merchant bank dedicated to the digital assets and blockchain technology industry, and one of the few public cryptocurrency firms within the world today. Their business lines include trading, asset management, principal investment, and as an advisory role. So, the question is: Should you invest in Galaxy Digital Holdings? The simple answer is yes, if you believe cryptocurrency has a future.

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To understand why we’ve taken this stance, let’s take a look at the cryptocurrency backdrop or how cryptocurrency has progressed over the years.

Galaxy Digital Holdings Ltd and Cryptocurrency Progress

Bitcoin started almost a decade ago in obscurity and has come a long way since then. Now, the leading digital asset is not only a well-known cryptocurrency, but it is also a payment system, a network, and a community.

Remember, the cryptocurrency industry is just getting started. Many experts, such as Joseph Lubin, expect to see much more innovation take within the rapidly growing sector of blockchain and cryptocurrencies. The blockchain, the technology that powers your favorite leading digital asset, Bitcoin, and your other favorites, like Ethereum, is expected to become a critical part of many types of businesses in the present and the future as well.

Indeed, corporations such as the Naspers investment, Tencent, Alibaba, Jingdong, Facebook, and other companies seek to delve into this sector and have initiated different products and projects within the industry.

Traditional discount brokerages and firms such as Fidelity also have integrated ways for investors to have exposure to Bitcoin through their firm. The recently proposed merger between Schwab and Ameritrade also makes Schwab a contender in the cryptocurrency sector.

Further, ex wall street types such as Mike Novogratz of Galaxy Digital Holdings, Ltd. has stepped in the sector to grow with the industry.

These recent events are a pretty big deal as it shows that Bitcoin has come a long way and has the full confidence of many different experts from the traditional finance sector.

With that, let’s take a look at Galaxy Digital Holdings.

Galaxy Digital Holdings Ltd,: A Contender in Your Portfolio?

Why might you want to take a look at Galaxy Digital Holdings?

Here are a few reasons why:

1. Top Class Management: Mike Novogratz is the founder of Galaxy Digital Holdings. He has a strong background in working on Wall Street with firms such as Goldman Sachs and the Fortress Investment Group. He participated in activities such as trading using styles such as macro investing. He had the privilege of investing in Bitcoin around 2012 or 2013 due to a tip from investors inside the Fortress Investment Group. He’s been following Bitcoin for some time now. Although he experienced some turbulence in his latter years of macro investing, he bounced back with the cryptocurrency oriented merchant bank, Galaxy Digital Holdings.
2. Diversified Product Lines – The firm dubs itself as a “multi-service merchant bank dedicated to the digital assets and blockchain technology industry.” Further, “it operates through the following business lines: Trading, Asset Management, Principal Investment, and Advisory. The Trading business covers arbitrage, macro, and market-making.”
3. Stock Price – Galaxy Digital Holdings and its stock price has, like the cryptocurrency industry, been volatile. Investors have the opportunity to buy the dip at this current time.
4. Potential – Galaxy Digital Holdings has significant growth potential as it engages in trading, asset management, advisory, and even principal investment. Indeed, the firm has made a slew of investments in a wide variety of firms ranging from BlockFi to Alphapoint. It has launched several Bitcoin funds for institutional investors, and continues to make investments in existing and new cryptocurrency and blockchain-oriented ventures.‘
5. Insider Buying – Novogratz purchased over $6 million CAD worth of stock in Galaxy Digital over the past year or so. He bought shares at around $2.40 CAD and the share currently trades approximately $1.11 CAD.

Risks of Galaxy Digital Holdings

Galaxy Digital Holdings does have potential to sink even further if Bitcoin and other digital assets experience a sharp decline.

One more slight issue is that Galaxy Digital is currently running at a loss as noted from recent filings.

But to me, traders might be interested to know that Galaxy Digital Holdings is investing in prominent Bitcoin entities like BlockFi that make a difference and add value to cryptocurrency enthusiasts.

Many companies within the cryptocurrency industry are going through some period of distress as they must grow increase userbases. If the belief is that Bitcoin, blockchain, and related companies are here to say, then investing in Galaxy Digital Holdings to me, should be a sure bet.

What do you think?

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