Galaxy CEO: Share Price Disconnected from Company Value; Will Buy More Shares Starting Today

TechFlow reported that on November 6, Galaxy Digital CEO Mike Novogratz said in a post that there is a “huge disconnect” between GLXY’s current share price and his assessment of the company’s value, so he will buy more shares starting today, adding that he is making a “major bet” on the company.

He acknowledged that the “blue wave” following the U.S. Democratic Party’s election victory has put pressure on companies such as Galaxy, but politics should not be conflated with long-term fundamentals. He believes the migration of financial activity on-chain and the explosion in AI demand are generational shifts that transcend changes in government and market cycles.

Novogratz also said Galaxy has delivered Phase 1 of its Helios project in Texas as planned, with 800 MW of capacity leased out under long-term contracts; the company will continue to work with local legislators, communities, and the new administration.

Source: TechFlow