According to a report from The Block, Galaxy Digital, the crypto merchant bank founded by Mike Novogratz, holds around $290 million in Bitcoin. The Block’s analysis is based on Galaxy Digital’s public filings with the Securities and Exchange Commission (SEC).
Galaxy Digital is one of the most active investors in the cryptocurrency space. The firm has made investments in a number of crypto companies, including BlockFi, BitGo, and CoinFi.
Galaxy Digital is also one of the largest over-the-counter (OTC) trading desks in the industry.
The $290 million figure represents approximately 2.5% of Galaxy Digital’s total assets under management (AUM).
Galaxy Digital’s AUM currently stands at around $11.4 billion.
While $290 million is a significant amount of money, it is worth noting that Galaxy Digital is not even close to being the largest institutional holder of Bitcoin. That title belongs to Grayscale Investments, which holds over $6 billion worth of Bitcoin.
7 Related Question Answers Found
The Bitcoin network is a global phenomenon that has captured the imagination of tech-savvy individuals and investors alike. But it’s also a source of significant environmental concerns. Critics say that the amount of energy needed to run the Bitcoin network is unsustainable and will only grow as the currency becomes more popular.
Bitfarms is one of the largest bitcoin mining companies in North America, and owns several major bitcoin mining farms across the continent. The company has been in operation since 2014, and is one of the oldest and most well-established miners in the space. According to Bitfarms’ website, the company owns and operates five bitcoin mining farms, located in Quebec and Washington State.
Bitcoin is a cryptocurrency and a payment system, first proposed by an anonymous person or group of people under the name Satoshi Nakamoto in 2008. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
As of early 2018, it is estimated that Genesis Global Trading, a digital currency trading firm founded by Peter Thiel and Bitcoin investor Mike Novogratz, had $12 million worth of bitcoin. The firm is one of the most aggressive institutional investors in digital currencies. In December 2017, Galaxy Digital Ventures, a merchant bank founded by Mike Novogratz, raised $250 million to invest in digital assets and blockchain companies.
When it comes to Bitcoin, there are a lot of different opinions out there. Some people believe that Bitcoin is the future of money, while others believe that it is nothing more than a digital fad. So, what is the truth?
The current price of Bitcoin is $8,700. It has been on a steady decline since reaching its all-time high of $19,783 in December 2017. Despite this, Bitcoin remains the most well-known and valuable cryptocurrency in existence.
