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Dec. 3, 2019
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Michael Novogratz's crypto-focused Galaxy Digital investment bank has released third quarter 2019 financial results according to which, total equity increased by $77.0 million during the nine-month period to $382.7 million as of September 30, 2019.

Galaxy Digital to Offer Crypto Options Contracts amid Bitcoin Rise

However, Galaxy Digital's net comprehensive loss is $68.2 million. The merchant bank states the loss was primarily on the Partnership's holdings of Bitcoin (EXANTE: Bitcoin) and Ethereum (ETH), whose prices fell during the three months ended September 30, 2019.

In addition to that, the Galaxy Digital's investments stood at $156.5 million as of September 30, 2019, a decrease of $22.9 million from December 31, 2018. The decrease was reportedly a result of the partial sale of shares.

In the meantime, Galaxy Digital CEO Michael Novogratz believes that bitcoin could continue its steady growth thanks to the global financial instability.

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