Galaxy Digital CEO Michael Novogratz still bullish on cryptocurrency despite weak performance | Crypto

Galaxy Digital CEO Michael Novogratz still bullish on cryptocurrency despite weak performance

– Galaxy Digital recorded a loss of over 500 million during the second quarter of this year, almost triple the amount of overall loss in 2021.
– The company’s heavy investment in crypto and the almost nine months long crypto winter are to blame.
– By November 2021, Bitcoin (BTC) attained its all time high and was trading at around 69,000 USD. However, since then its value has been dropping and barely made any significant move during this time.
– The situation became worse following the Terra (LUNA) network collapse after the depegging of its algorithmic stablecoin UST.
– Major cryptocurrencies including bitcoin (BTC) were also among drastically affected assets.
– Despite the situation, Novogratz is still bullish on the cryptocurrency market and anticipates its comeback.

Mike Novogratz Company Slides Due to BTC Crash Galaxy Digital CEO Michael Novogratz still bullish on cryptocurrency despite weak performance

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