Galaxy CEO: Share Price Disconnects From Company Value, Begins Increasing Holdings Today

on November 6, Galaxy Digital CEO Mike Novogratz stated that there is a "massive disconnect" between GLXY's current share price and his assessment of the company's intrinsic value, and therefore will begin purchasing additional shares starting today, adding that he will make a "heavy bet" on the company.

He acknowledged that the "blue wave" from the Democratic Party's election victory has placed pressure on companies like Galaxy, but cautioned against conflating politics with long-term fundamentals. He believes that the migration of finance to on-chain ecosystems and the surge in AI demand constitute generational shifts that transcend government transitions and market cycles.

Novogratz also noted that Galaxy has delivered Phase I of its Texas Helios project as planned, with 800 megawatts of capacity already leased under long-term contracts; the company will continue to collaborate with local legislators, the community, and the incoming administration.