Mike Novogratz increased his stake in Galaxy Digital by …

Mike Novogratz increased his stake in Galaxy Digital by 2.7%

Former Goldman Sachs partner Mike Novogratz has increased his share participation in the cryptocurrency he founded trade Galaxy Digital bank, reports Bloomberg.

Mike Novogratz increased his stake in Galaxy Digital by ...

Novogratz, also performing the function CEO Galaxy Digital, now is an holder 221.2 million ordinary shares company or 79.3% of their the total. Previously he allegedly “owned 213.7 million Class B units in a limited partnership or 76.6% of the total.”.

Mike Novogratz increased his stake in Galaxy Digital by ...

According to a statement released Wednesday and released by Bloomberg, Novogratz has gained 7.5 million shares, which corresponds to 2.7% of all Galaxy Digital shares outstanding, per $ 4.8 million.

Galaxy Digital Holdings Ltd. passed listing in canadian exchange TSX Venture Exchange early August, but could not keep course their valuable papers on the background of a decline in cryptocurrencies. Market reacted positively on today’s news, and the price of GLXY climbed 21.36%. As Bloomberg notes, in 2018 year the company’s shares showed a 19% decline.

In November, Galaxy reported a cumulative loss of $ 76.65 million for the third quarter of 2018. Commenting on this data, Novogratz complained about then, how hard it is cryptocurrency business in a bearish market, but did not leave hopes for renewal growth bitcoin in 2019, which the, by him forecasts, can be caused by an influx of institutional capital.

The Block analyst Arjun Balaji named the last Novogratz initiative with a positive signal for future of the company: “He considers the stock to be undervalued because is he surely knows what is in the glass when other people do not have such information. By my opinion, this bullish signal “.