Mike Novogratz Now Owns Almost 80% Of The Galaxy Digital Shares

Mike Novogratz, the Ex-Goldman Sachs partner, increased his shares in Galaxy Digital and now according to a report that reached our crypto news, he owns almost 80 percent of the shares in the company.

He is also the founder of Galaxy Digital and serves as a chief executive officer at the crypto-merchant bank and now he reportedly owns about 221 million ordinary shares which are about 80 percent of the ordinary shares. The CEO bought 7.5 million new shares.

Galaxy Digital Holdings Ltd. is on the list on Canada’s TSX Venture Exchange after the company’s shares started off on a wrong path back in August. The market is responding well to the news of the increased stakes especially since the shares in the bank dropped by almost 20 percent in 2018 during the prolonged bear market.

The listing of Galaxy Digital on TSX lasted about eight months. Novogratz decided to secure a listing for his bank via a ‘’reverse takeover’’ by merging his bank with another shell company already listed on the TSX Venture exchange list.

As long as the markets continue to wobble, Novogratz expresses his optimism that this winter for the crypto market and especially for Bitcoin, does not expect that the number one cryptocurrency price will continue to drop much further. In the first three quarters of 2018, Galaxy Digital saw losses up to $136 million.

Previously, Mike Novogratz predicted that all of the financial institutions will go from investing in crypto funds to investing in cryptocurrencies properly in the first quarter of next year. Also, he believes that cryptocurrencies will flip next year because that’s when the prices will start to move again.