Galaxy Digital, a cryptocurrency broker and commercial bank founded by billionaire investor Michael Novogratz, announced today, Monday, November 29, 2021, that will issue USD 500 million in exchangeable senior bonds to accelerate its business initiatives. The debt is convertible into capital of the company and has an interest rate of 3% per year, maturing in 2026. Among the new areas of expansion are non-fungible tokens, or NFTs, and The company has committed $ 62 million of its capital to 22 NFT-related companies since the beginning of the year.
Over the years, the founder and CEO of Galaxy Digital, Mike Novogratz, has been a famous bullish investor in Bitcoin (BTC) and other cryptocurrencies. It has asked other investors to allocate between 1 and 5% of their wealth to cryptocurrencies. Under his leadership, the company’s assets under management exceeded $ 3 billion in an update provided in October. and they have become one of the largest digital currency investment companies in the world.
The company is registered in the Cayman Islands and its shares are listed on the Toronto Stock Exchange, Canada. However, it is in the process of restructuring to list its shares in the United States next year. The Securities and Exchange Commission has yet to approve its possible debut in the US market.
In the latest quarter, Galaxy Digital’s net income from trading, investing, asset management, cryptocurrency mining and other corporate sources totaled $ 517.1 million, up from $ 41.5 million in the same quarter. from the previous year. The shares are up 405.4% year-over-year, up to CAD 23.51 each as of November 29.
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