Galaxy CEO Mike Novogratz Announces Stock Buyback Amid Market Disconnection

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Galaxy Digital CEO Mike Novogratz said the company’s stock is undervalued in the digital asset market and announced he will begin purchasing shares. He dismissed short-term political risks, highlighting long-term trends such as blockchain finance and demand for AI. Galaxy has secured 800 MW of capacity in Texas under long-term contracts. The Fear & Greed Index remains volatile, but Novogratz remains focused on fundamentals.

According to Huoxing Finance, Mike Novogratz, CEO of cryptocurrency financial services firm Galaxy Digital, posted that there is a significant disconnect between Galaxy’s current stock price and the company’s intrinsic value, and therefore announced he will begin purchasing additional shares, committing to a substantial investment in the company. He acknowledged that the Democratic victory and the resulting “blue wave” in the U.S. have pressured companies like Galaxy, but emphasized that politics should not be conflated with long-term fundamentals. He believes the migration of finance on-chain and the surge in AI demand represent generational shifts that transcend government transitions and market cycles. Novogratz also noted that Galaxy has delivered Phase One of its Texas Helios project as planned, with 800 megawatts of capacity already leased under long-term contracts, and that the company will continue collaborating with local legislators, communities, and the new administration.

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