Galaxy Digital Sees Big Losses In Q2, But Mike Novogratz Still Confident

Galaxy Digital lost as much as $ 175.8 million in Q2, but Mike Novogratz talks about the benefits of adopting digital assets. Mike Novogratz says the second quarter of 2021 is down from the first quarter.

The company released the report and cited shocking damages. The company’s net profit in the first quarter was $ 860 million. In particular, the financial report released on June 30 was rather discouraging.

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A 34% drop in the price of digital assets and a 41% drop in the price of bitcoin affected the company’s profits, according to the report.

Bitcoin continues to rise in daily chart / source: btcusd on TradingView.com
How does Mike Novogratz perceive this?
During the conference call, Mike Novogratz shows he’s indifferent to losses. According to our sources, Mike Novogratz did not focus on complaints about the money the firm lost. Instead, he draws on some statistics that make him happier.

For example, he noted, the company has increased the volume of trade with counterparties. They also had several blue-chip partnerships at Goldman Sachs.”They also completed successful employee acquisitions and strategic investments.

June January to June with all this in mind, Mike thinks Galaxy Digital is pretty profitable, especially if you’re viewing it in 2021. With a net profit of $ 686 million, no one can accuse him of the allegations.

In October, Mike Novogratz noted that the decline in asset prices and observed market volatility had changed. According to him, the increased implementation taking place throughout the system is contributing to positive changes. He backed up his claims with a rise of up to 90% in the company’s trading volume.

Mike stressed that the adoption of crypto assets is more important for companies in the industry. Companies said they were more focused on application benefits for price movements they did not read

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