5/30/2019
Galaxy Digital CC: Key Takeaways
Speaker: Mike Novogratz
-$12.9 million Net Income; omit stock based compensation and that number is $23 million
-Asset management, trading lines are slowly increasing
-Advisory business still no revenue, but as expected, will take time for market to mature and grow accustom to paying for advise
-Liquidated Block.one investment primarily for liquidity reasons – didn’t want to sell equity at such a low market price, high dilution: sale resulting in $70 mill liquidity for firm
Market Commentary
-FB and MSFT massive credibility added to cryptosphere by these behemoths joining in material ways
-China trade war leads to Chinese wanting to move money and speculators buying digital gold due to uncertainty
-Numerous institutional infrastructure improvements in the crypto space thus far, and continues
-Sellers exhaustion has climaxed – expect stabilizing of price between $7k-$10k; error to the upside
-Dfinitiy and Telegam protocols coming over next 6-9 months – optimistic outlook
Galaxy Digital CC: Key Takeaways
Speaker: Mike Novogratz
-$12.9 million Net Income; omit stock based compensation and that number is $23 million
-Asset management, trading lines are slowly increasing
-Advisory business still no revenue, but as expected, will take time for market to mature and grow accustom to paying for advise
-Liquidated Block.one investment primarily for liquidity reasons – didn’t want to sell equity at such a low market price, high dilution: sale resulting in $70 mill liquidity for firm
Market Commentary
-FB and MSFT massive credibility added to cryptosphere by these behemoths joining in material ways
-China trade war leads to Chinese wanting to move money and speculators buying digital gold due to uncertainty
-Numerous institutional infrastructure improvements in the crypto space thus far, and continues
-Sellers exhaustion has climaxed – expect stabilizing of price between $7k-$10k; error to the upside
-Dfinitiy and Telegam protocols coming over next 6-9 months – optimistic outlook