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<p>Michael Novogratz Galaxy Digital on Tuesday reported its fourth-quarter results. Apart from swinging to a fourth-quarter profit, the blockchain company also released its total asset under management report, which gave details on how many digital assets the firm holds. With a good quarter in trading volumes and good prices for crypto, the company’s overall profit soared. However, the shares of the company fell after the result announcement.</p>
<h2 id="galaxy-digital-net-digital-assets-increase-in-q4">Galaxy Digital Net Digital Assets Increase in Q4</h2>
<p>As of 31st December 2023, Galaxy Digital saw an increase in its <a rel="noopener noreferrer nofollow" href="https://finance.yahoo.com/news/galaxy-announces-fourth-quarter-full-110000112.html" target="_blank">net digital assets</a> under management. The quarterly results revealed that the firm has a top holding of Bitcoin followed by Ethereum and Celestial. The firm has 589.0 million Bitcoins, as of the end of 2023, as compared to 222.2 million in 2022.</p>
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<h2 id="galaxy-digital-reports-profit-in-fourth-quarter">Galaxy Digital Reports Profit in Fourth Quarter</h2>
<p><a rel="noopener noreferrer nofollow" href="https://www.bloomberg.com/news/articles/2024-03-26/novogratz-s-galaxy-swings-to-quarterly-profit-on-crypto-bounce" target="_blank">Bloomberg</a> also reported that Galaxy Digital Holdings, owned by Michael Novogratz, turned to profit in the fourth quarter thanks to growing prices for digital assets and more trading activity.</p>
<p>In comparison to the same time last year, when there was a loss of $288.8 million, or $3.13, the firm incurred a net income of $301.5 million, or 90 cents per share. Galaxy said in a statement on Tuesday that “heightened market volatility and increased trading volumes” were the main factors driving this, with the company’s operations benefiting. The price hikes of digital assets were also a contributing factor.</p>
<p>The company recorded almost $300 million in income before taxes for the year ending in February 2024. Additionally, as of February 29, 2024, Assets Under Management, or “AUM,” climbed to $10.1 billion.</p>
<h2 id="galaxy-digital-s-share-buyback">Galaxy Digital’s Share Buyback</h2>
<p>On May 31, 2023, the Company launched a fresh normal course issuer bid for the repurchase of shares. It is qualified to buy up to 10.1 million common shares. At an average price of CAD $4.69, Galaxy repurchased almost 1.2 million shares between July 1, 2023, and December 31, 2023.</p>
<p>Shares of the company were down nearly 7% after the announcement of the results and buyback.</p>
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<p>The post <a href="https://coingape.com/bitcoin-ethereum-celestia-among-top-holdings-of-novogratzs-galaxy-digital/" rel="noopener noreferrer nofollow">Bitcoin, Ethereum, Celestia Among Top Holdings of Novogratz’s Galaxy Digital</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Bitcoin, Ethereum, Celestia Among Top Holdings of Novogratz’s Galaxy Digital

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