Galaxy Digital CEO Predicts Shift to Real-World Assets as Bitcoin Falls 23.4%
Bitcoin’s price has fallen 23.4% year-to-date, dipping below $70,000 and triggering a 33.12% slide in Coinbase shares last month. Galaxy Digital shares rose 0.19% as CEO Mike Novogratz forecasts a pivot from speculative tokens to real-world asset crypto, potentially reshaping the firm’s investment strategy and revenue mix.
1. Market Downturn
Bitcoin has plunged 23.4% year-to-date, slipping below $70,000 for the first time since late 2024, and high-growth crypto stocks have followed suit, with Coinbase shares down 33.12% over the past month amid renewed volatility.
2. Novogratz’s Strategic Shift
Galaxy Digital CEO Mike Novogratz warned that the crypto sector is moving away from speculative tokens toward real-world asset–backed cryptocurrencies with lower return profiles, signaling a major strategic pivot for his firm.
3. Stock Reaction
Galaxy Digital shares inched up 0.19% as investors digested Novogratz’s outlook and broader market weakness, positioning GLXY for potential portfolio rebalancing ahead of key industry earnings next week.