This Crypto Billionaire Just Got Richer and Wall Street Can’t Stop Yapping About It

Oh, look at this! H.C. Wainwright—you know, the really fancy suits on Wall Street—just bumped up their price target for Galaxy Digital to $39. Wow, prestige! Like, “take me out for steak and wine” kind of prestige!🍷🥩

So here’s Mike Novogratz—our cowboy billionaire with the shaved head and the “I love crypto” tattoo (probably)—and his Galaxy Digital is just strutting around, getting ready for its big debut on Nasdaq. Apparently, May 14 was their day to shine. H.C. Wainwright still says “Buy!” even though, brace yourself, Galaxy Digital just lost almost $300 million in Q1 2025. That’s not a typo. Lost 295 million bucks. I mean, I lose that much in my couch cushions. 🛋️💸

But don’t worry! It’s not Mike’s fault. It’s the “challenging macro conditions”—the financial equivalent of “my dog ate my homework.” Everyone’s got an excuse! Anyway, H.C. Wainwright is basically saying, “There’s hope!” Nasdaq’s coming May 16 and, so far, they’ve only been hanging around Toronto. Sorry, Canada—nice racket, but now they want the big leagues. 🎲

Apparently, “Growth Potential” Isn’t Just Something You Tell Your Mother-in-Law

Listen, listing on Nasdaq is supposed to be a big signal—like, “Look at us! We’re trustworthy! We don’t lose socks in the dryer!” Investors love this. Plus, retail trading apps like Robinhood and eToro are getting in on the action, because who doesn’t love a little boom-bust drama before breakfast?

And hey, crypto might rebound in Q2 2025. Or not. Who knows? If it does, Galaxy wins, because they dabble in everything—financial services, magic beans, whatever. They’ve got their own bag of crypto tricks.

“We believe Galaxy’s client-facing digital asset businesses and the company’s large crypto portfolio are poised to benefit from rising prices in 2H25, as the industry benefits from greater regulatory clarity and growing institutional adoption,” H.C. Wainwright.

Oh, and let’s not forget AI! You can’t swing a cat without hitting somebody’s AI startup these days. Galaxy signed a sweet deal with CoreWeave—$13 million over 15 years. That’s like, I don’t know, Netflix money in 2004. But sure, let’s call it “significant.”🤷‍♂️

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2025-05-14 22:29