Crypto Giant Galaxy Digital Goes Public with New Strategies
Galaxy Digital, led by Michael Novogratz, made its debut on the Nasdaq under ticker GLXY, marking a significant milestone for the crypto industry. In a CNBC interview,Novogratz shared his ambitious vision: “We aimed to be the goldman Sachs of crypto,and the industry is now ready.”
galaxy’s public listing aligns with a strategic pivot. While still dedicated to crypto, the firm has ventured into AI data centers.Novogratz explains, “We are now both a data center and crypto company.” A major lease with CoreWeave at Texas’s Helios site backs this claim, with expected rent near $14 billion over 15 years.
The AI move is not just a backup plan. “These fields—AI and crypto—are the most promising growth areas,” Novogratz noted. By mid-next year, he expects the data center to generate significant revenue.
On politics, Novogratz was outspoken. He criticized the Biden management’s approach to crypto but sees a more favorable climate now. “This shift is great for crypto.” He also praised Senators Warner and Gallego for legislative efforts, hoping to see crypto regulations finalized soon.
Novogratz remains bullish on BitcoinS future. “We predict BTC will surpass 106, 107, and reach 150.” He believes crypto will eventually rival gold’s market value.
