The chief executive of Galaxy announced on Nov 5 that he is expanding his personal holdings in the company’s equity to signal confidence in the firm’s long term prospects. Mike Novogratz stated he is buying more $GLXY stock because he believes there is a “massive disconnect” between the company’s current market trading price and its actual worth.
The purchase comes as Novogratz pushes back against concerns regarding Texas political uncertainty and a “blue wave” he says has pressured companies in the sector. Pointing to the growth of onchain finance and AI demand, Novogratz noted that Galaxy’s Helios Phase I project has already leased 800 MW of capacity under long term contracts.
