Galaxy Digital Releases Video Providing Crypto Market View

Galaxy Digital Holdings (TSE: GLXY) provided an updated macroeconomic analysis and strategic view regarding the current volatility of the cryptocurrency market in a short video on Wednesday.

Galaxy Digital is an asset management firm operating in the digital asset, cryptocurrency, and blockchain technology industry.

CEO Optimistic About Galaxy’s Growth

In the video, Galaxy CEO and founder Michel Novogratz shared his macro views on the current cryptocurrency market conditions.

He also provided an update on Galaxy Digital’s strategic view of the current conditions, saying “When you have a to-do list as long as ours at Galaxy in terms of acquisitions, people we’re hiring, businesses we’re building, as long as you have a strong balance sheet, which we do, sometimes dislocations can play into your strength.

“And so, I see this as an opportunity. We are optimistic, we are going to continue to grow, certainly we’ll monitor market conditions, but I do not see anything out there telling me this is a time to slow down.”

The video can be viewed on Galaxy’s investor relations website.

Wall Street’s Take

Last month, BMO Capital analyst Deepak Kaushal maintained a Buy rating on GLXY and set a price target to C$44. This implies 164.4% upside potential.

The rest of the Street is cautiously optimistic on GLXY with a Moderate Buy consensus rating based on two Buys. The average Galaxy Digital Holdings price target of C$46 implies 177% upside potential to current levels.

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