Galaxy Digital Inc. (NASDAQ: GLXY) CEO Mike Novogratz said in an interview aired on Tuesday that he’s not giving up on Bitcoin (CRYPTO: BTC) despite the negative sentiment, but cautioned against going overly bullish too soon.
Novogratz Says More ‘Healing To Do’
Speaking to SkyBridge Capital founder Anthony Scaramucci, Novogratz expressed confidence that Bitcoin has not yet seen its all-time high, though agreed that there’s more “healing to do.”
“How we get momentum back in crypto pricing has always been about narrative and we’re going to have to see that pick back up and prices beget prices. And so in some ways, you don’t need to get bullish until we break $100,000,” Novogratz stated.
The billionaire tycoon said that Bitcoin is supported by a “gigantic apparatus” and a belief system that is unlikely to disappear anytime soon.
Crypto Is Like Internet
Novogratz added he was bullish on building the infrastructure for cryptocurrency.
“It’s a little bit like the internet, you know, after the internet had trouble, you had some of the greatest years of growth in terms of building the infrastructure. And so there’s no bear market in building crypto infrastructure,” he said.
See Also: Bitcoin (BTC) Price Predictions: 2025, 2026, 2030
Galaxy’s Bitcoin Treasury
Novogratz, who co-founded Galaxy Digital, a firm specializing in digital assets and AI infrastructure, is a known Bitcoin supporter. He projected earlier this year that the apex cryptocurrency could grow tenfold to $1 million, eventually replacing gold as the top store of value asset.
Notably, Galaxy holds 6,894 BTC, worth $600 million, on its balance sheet, according to BitcoinTreasuries.net.
Will Bitcoin Bounce Back Stronger?
Leading cryptocurrency analyst Ben Cowen predicted that Bitcoin and Ethereum (CRYPTO: ETH) would remain range-bound through summer 2026 as the Federal Reserve won’t step in to cut interest rates.
Moreover, renowned economist Peter Schiff said that Bitcoin’s trade is over, highlighting its failure to follow gains in tech stocks or precious metals like gold.
Price Action: At the time of writing, BTC was trading at $87,268.68, down 1.08% over the last 24 hours, according to data from Benzinga Pro.
Galaxy Digital shares fell 0.45%in after-hours trading after closing 0.08% lower at $24.59 during Tuesday’s regular trading session. The stock has grown more than 40% in 2025.
GLXY demonstrated a low Value score and underperformed on the short, medium and long-term price trends. Visit Benzinga Edge Stock Rankings to find out more about this stock.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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