Galaxy Digital is a merchant bank that also deals in crypto brokerage. It was founded by Michael Novogratz, who also happens to be a billionaire investor. Recently, it has raised 500 million dollars in convertible debt to further its business. This move is perhaps fuelled by a growing crypto market and the shift towards decentralization and digitization. Galaxy Digital’s CEO, Novogratz, is a known investor of Bitcoin and various other cryptos. He’s more on the Bullish side and, as a Redditor would put it, holds as his life depends upon it.
Novogratz’s emphasis on crypto
Novogratz has also instructed other investors of Galaxy Digital to shift at least 1 to 5 percent of their portfolio to crypto. It was under Novogratz that Galaxy Digital became the number one digital currency investment company in the whole wide world. Novogratz’s tilt towards crypto is a good sign for those looking forward to Defi and a world where crypto is a major player in the finance market. The current tussle between traditional finance and decentralized finance has crypto at its center, and Defi needs all the support it can gather.
Conclusion
As of today, it seems that the future will largely be decentralized on the web. From social media to finance, everything is moving towards decentralization and has the support of various big players in the current market. Novogratz is one of the many who have invested in the future of cryptocurrency. It’s a little-known fact that under his guidance, the company’s assets have been able to surpass the $3 billion mark.
