Mike Novogratz: Crypto's Speculation Age May Be Over, Real-World Assets Next
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Should l Buy GLXY?
Source: Yahoo Finance
- Market Transformation Signal: Galaxy Digital CEO Mike Novogratz stated at the CNBC Digital Finance Forum in New York that the crypto market's 'age of speculation' may be ending as risk-averse institutions enter, with a shift towards tokenized real-world assets and tokenized stocks expected to dominate with 'lower returns'.
- Market Correction Reasons: He noted that Bitcoin has fallen over 21% year-to-date, contrasting this with the 2022 FTX collapse, emphasizing that there is no clear 'smoking gun' this time, but rather a market still recovering from the October 2025 leverage wipeout that eliminated many retail and market makers.
- Impact of Leverage Wipeout: During the October 2025 flush, over 1.6 million traders lost a combined $19.37 billion in leveraged positions within 24 hours, with Novogratz highlighting that this wipeout has made it slow to rebuild market narratives, affecting investor confidence.
- Legislative Need: Novogratz called for the passage of the CLARITY Act to restore 'spirit' in the market, indicating that his discussions with Senate Minority Leader Chuck Schumer suggest that legislation is necessary to improve market structure and promote the next phase of tokenized finance.
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Analyst Views on GLXY
Wall Street analysts forecast GLXY stock price to rise
12 Analyst Rating
11 Buy
1 Hold
0 Sell
Strong Buy
Current: 20.150
Low
24.00
Averages
43.89
High
60.00
Current: 20.150
Low
24.00
Averages
43.89
High
60.00
About GLXY
Galaxy Digital Inc. is engaged in the business of digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence (AI). The Company's digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, it develops and operates data center infrastructure to power AI and high-performance computing workloads. The Company's segments include Digital Assets, Data Centers, and Treasury and Corporate. Its Digital Assets operating business segment provides new products and capabilities such as staking, margin-based financing and active exchange-traded funds. The Data Centers segment comprises the Helios infrastructure assets. Its Data Centers segment develops and operates High Performance Computing (HPC) infrastructure to meet the growing demand for large-scale, power-ready facilities in the AI/HPC industry.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Legal Investigation Launched: Pomerantz LLP is investigating whether Galaxy and its executives engaged in securities fraud or other unlawful business practices, which could lead to further legal risks and financial losses, impacting the company's reputation.
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- Mixed Market Performance: The S&P 500 closed unchanged, the Nasdaq 100 rose by 0.29%, while the Dow Jones Industrial Average fell by 0.13%, highlighting a contrast between strong tech stock performance and weakness in software stocks.
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