Latest news with #MichaelNovogratz
Business Insider
5 days ago
- Business
- Business Insider
The market's crypto treasury craze has peaked, Mike Novogratz says
The crypto treasury play might be the hottest crypto move of the year — but the market might already be saturated. Crypto treasuries have been in full focus this year amid broader bullisness in the space and as companies try and replicate the stunning success of Strategy, which pioneered the idea of a bitcoin treasury. But one top crytpo bull thinks the trend has already peaked. Michael Novogratz, CEO of Galaxy Digital and an early bitcoin investor, recently addressed this topic when his company reported second-quarter earnings. When asked by an analyst what he expects to see regarding crypto treasuries in the near future, Novogratz revealed that he believes the rush on creating companies with crypto-heavy balance sheets may be over. "We are seeing a tremendous amount of opportunities there," he stated, referring to the crypto treasury space. "But I think we've probably gone through peak treasury company issuance of new companies." Novogratz added that he is interested in seeing which existing crypto treasuries become "monsters" in the industry and will thrive when the market becomes oversaturated. "Most of them are offering similar product, and so you'll see them in different tokens, or different mixes of tokens," he said. Even so, Novogratz made it clear that he has high hopes for the crypto treasury space. He highlighted the impact that Strategy, formerly MicroStrategy, has had on the industry as it has prioritized buying and holding bitcoin, stating, "it's probably the single most important player in the bitcoin ecosystem." Novogratz also flagged newer crypto treasuries, including Fundstrat co-founder Tom Lee's recent ethereum treasury venture, Bitmine Immersion. The firm's tactic mirrors Michael Saylor's Strategy playbook: "accumulating digital assets, raising new capital by issuing debt or equity, and then using proceeds to buy more crypto" in hopes that it spurs growth for the market. "I think you're gonna continue to see those companies grow, and I think the new companies in those ecosystems will have a harder time getting oxygen," Novogratz said. He also predicted that as the crypto market evolves, new ecosystems will be formed, creating opportunity for companies. Novogratz highlighted the success with which crypto treasuries have effectively helped expand the market. "These treasury companies have done an amazing job of bringing people into the crypto tent," he said. "I think they're gonna continue to play a pretty important part."
Yahoo
6 days ago
- Business
- Yahoo
Bitcoin treasury companies have peaked, says Galaxy's Novogratz
-- The surge in companies created to hold cryptocurrencies on their balance sheets has likely reached its peak, according to Galaxy Digital (TSX:GLXY) founder and CEO Michael Novogratz. "We've probably gone through peak treasury company issuance," Novogratz said Tuesday during Galaxy Digital's second-quarter earnings call. "The question now is which of the existing companies become monsters." Novogratz highlighted that Ethereum, the second-largest cryptocurrency, already has two major treasury holders - Tom Lee's BitMine and Joe Lubin's SharpLink - which he expects will continue to grow. He cautioned that new market entrants may "have a harder time getting oxygen." Galaxy Digital currently works with more than 20 crypto treasury investment firms, collecting management fees for overseeing their cryptocurrency holdings. These partnerships have added approximately $2 billion in assets to Galaxy's platform, generating what Novogratz described as "recurring income that will go on and on." Crypto treasury companies, which raise capital in public markets and invest their corporate cash in digital tokens, have multiplied in recent months, benefiting from a more favorable regulatory environment in the United States. Related articles Bitcoin treasury companies have peaked, says Galaxy's Novogratz Risks Rising? Smart Money Dodged 46%+ Drawdowns on These High-Flying Names Apollo economist warns: AI bubble now bigger than 1990s tech mania Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
6 days ago
- Business
- Bloomberg
Galaxy's Mike Novogratz Says Crypto Treasury Rush Has Peaked
Michael Novogratz says the rush to create companies that hold cryptocurrencies on their balance sheets has likely peaked. 'We've probably gone through peak treasury company issuance,' Novogratz, founder and chief executive of Galaxy Digital, said Tuesday on the firm's second-quarter earnings call. 'The question now is which of the existing companies become monsters.'
Yahoo
26-07-2025
- Business
- Yahoo
$4,000 Is Ethereum's Last Hurdle Before Price Discovery, Says Galaxy Digital's Mike Novogratz
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Michael Novogratz, CEO of Galaxy Digital on Thursday said Ethereum (CRYPTO: ETH) has a chance to outperform Bitcoin (CRYPTO: BTC) over the next three to six months as institutional capital begins to rotate deeper into Ethereum. What Happened: The remarks came during an interview with CNBC, where Novogratz discussed macroeconomic tailwinds and capital inflows driving momentum in the crypto market. Galaxy's bullish stance on Ethereum is also evident in its onchain activity. Trending: Be part of the breakthrough that could replace plastic as we know it— According to blockchain intelligence platform Arkham, Galaxy Digital currently holds over 52,000 ETH valued at approximately $193.95 million, making it the firm's second-largest crypto position after Bitcoin. "If ETH takes out 4,000, it goes into price discovery," Novogratz said. "The market was really short ETH, and now we have major treasury companies raising capital and buying Ether. There's not a lot of supply." Why It Matters: Bitcoin remains the largest holding in Galaxy's crypto portfolio at over 13,500 BTC, worth $1.57 billion, followed by 328,959 Solana (CRYPTO: SOL) worth roughly $59.3 million. Other holdings include stablecoins like USDC (CRYPTO: USDC) and USDT (CRYPTO: USDT), and real-world asset tokens like Sonic (CRYPTO: S). Galaxy's total visible crypto portfolio value sits just below $1.9 billion, Arkham data shows. That figure has surged alongside Bitcoin's rise above $115,000 and Ethereum's rally toward the $4,000 noted that the broader macro environment, defined by political pressure on the Fed to lower rates and a global reflation push from countries like China, has created a tailwind for 'inflation trades' like gold, silver, and crypto assets. "We're in price discovery in many of these markets," Novogratz said. "Bitcoin could easily reach $130K to $150K, but Ether's supply dynamics and growing adoption make it compelling." Galaxy's ETH holdings support this outlook. The fund has added significantly to its Ethereum position during the past two quarters, according to Arkham's historical balance chart, with an observable increase in mid-2024. The broader Ethereum ecosystem has seen renewed interest with the rise of ETH-based treasuries, staking products, and upcoming scalability upgrades. With ETF applications pending and layer-2 activity rising, institutional ETH accumulation is expected to continue. Read Next: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Image: Shutterstock This article $4,000 Is Ethereum's Last Hurdle Before Price Discovery, Says Galaxy Digital's Mike Novogratz originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-07-2025
- Business
- Yahoo
Galaxy Schedules Webcast and Investor Call to Review Second Quarter 2025 Results on August 5, 2025
NEW YORK, July 15, 2025 /CNW/ - Galaxy Digital Inc. (NASDAQ: GLXY) (TSX: GLXY) ("Galaxy" or the "Company") is pleased to announce that it will report second quarter 2025 financial results before the opening of Nasdaq and the Toronto Stock Exchange on Tuesday August 5th, 2025. Michael Novogratz, CEO and Founder of Galaxy, and members of management will host a conference call to provide an update to investors and analysts on the Company's activities and results on the same day at 8:30 AM Eastern Time. A live webcast will be available at The conference call can also be accessed by investors and analysts in the United States or Canada by dialing 1-844-746-0741, or +1-412-317-5107(outside the U.S. and Canada) using the Conference ID: 2449863. A replay of the webcast will be available and can be accessed in the same manner as the live webcast on the Company's Investor Relations website. About Galaxy Galaxy Digital Inc. (NASDAQ/TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia. Disclaimers The TSX has neither approved nor disapproved the contents of this press release. View original content to download multimedia: SOURCE Galaxy Digital Inc. View original content to download multimedia:
