Cryptocurrency investment Bank Mike Novogratz, Galaxy Digital, lost $136 million in the first three quarters of 2018.
Of $136 million to $41 million reached in the third quarter. Also this month dipped by 55% and the company’s share price reaching record low levels. The main reason is the collapse of the largest courses of cryptocurrency — Bitcoin (BTC), Ripple (XRP) and Ethereum (ETH).
Mike Novogratz is confidentthat next year cryptocurrency waiting for a “rebound” in the first place due to the fact that financial institutions will move away from investing in cryptocurrency funds and start to invest directly in cryptocurrency. According to him, the year 2018 was hard for Galaxy Digital.
In November, Novogratz said that in 2019 the exchange rate of bitcoin can be “$20,000 or more,” and by the end of the year BTC could be at $8900. And while at the time of writing, the exchange rate of bitcoin is $4160 (+7.85% over the last 24 hours).