Galaxy CEO Mike Novogratz Announces Stock Buybacks Amid Market Disconnection

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Galaxy CEO Mike Novogratz said the company’s stock price is out of sync with its true value and that the company will begin buying more shares. He cited political risks from a potential Democratic victory but emphasized that the fundamentals of the crypto market remain strong. Galaxy has completed the first phase of its Texas Helios project, securing 800 MW through long-term agreements. The digital asset market continues to evolve despite regulatory uncertainty.

ChainCatcher report: Mike Novogratz, CEO of cryptocurrency financial services firm Galaxy Digital, posted that there is a significant disconnect between GLXY’s current stock price and the company’s intrinsic value, and therefore announced he will begin purchasing additional shares, making a substantial bet on the company. He acknowledged that the Democratic victory and the resulting blue wave 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 Helios project in Texas as planned, with 800 megawatts of capacity already leased under long-term contracts, and that the company will continue collaborating with local legislators, the community, and the new administration.

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