Share this article
Novogratz Buys Another 2.7% of His Galaxy Digital Crypto Fund for $5 Million
Michael Novogratz has increased his stake in Galaxy Digital Holdings, Ltd. to nearly 80 percent.
Updated Sep 13, 2021, 8:43 a.m. Published Jan 2, 2019, 6:35 p.m.
Michael Novogratz has invested nearly $5 million more in his cryptocurrency venture fund, Galaxy Digital Holdings, Ltd.
The Galaxy CEO purchased 7.5 million ordinary shares of the company, or 2.7 percent of total shares outstanding, for 7.42 million Canadian dollars ($4.8 million), according to a press release Wednesday. The purchase increased his total stake to about 79.3 percent of Galaxy, which trades on the Toronto Stock Exchange's TSX Venture Exchange.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The company’s stock jumped 21.36 percent on the news Wednesday morning, reaching 1.25 Canadian dollars at press time. The stock fell 19 percent last year amid a bear market for crypto investments.
In November, Galaxy reported a $76.65 million net loss for the third quarter of 2018. Novogratz commented on the results at the time by saying that it “sucks to build a business in a bear market,” but still expressed optimism about the industry and predicted an influx of institutional money into cryptocurrencies in 2019 — and a resulting bull run.
Galaxy went public last year through a reverse merger with a listed pharmaceutical company.
Mike Novogratz at Consensus: Invest 2017, image via Shutterstock
More For You
알아야 할 것:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Más para ti
Bitcoin Rebounds to $93K From Post-Fed Lows, but Altcoins Remain Under Pressure
Downward pressure on bitcoin is losing steam, with the market stabilizing but not yet out of the woods, said one analyst.
Lo que debes saber:
- Bitcoin rebounded from a sharp early selloff on Thursday to trade above $93,000 shortly after the close of U.S. stocks.
- The late-day gain in bitcoin came alongside a rebound in the Nasdaq from big morning losses; the tech index closed with just a 0.25% loss.
- Downward pressure on bitcoin is losing steam, said one analyst, but the market is not yet out of the woods.
Top Stories
