Galaxy Digital CEO and founder Mike Novogratz, companies Bitcoin $114,988.95He said he saw the highest level of the trend as a treasury reserve and the number of new participants decreased. According to Bloomberg’s Galaxy Digital’s second quarter call for earnings, Novogratz said that new companies no longer expect new companies to make large -scale entrances.
Change in Treasury Policies of Companies
Spot Bitcoin and Ethereum 
$3,678.40 Following the launch of the stock exchange investment funds (ETF), especially crypto assets such as BTC and ETH were tend to be added to the corporate treasury by many companies. Some pioneering companies that put Bitcoin at the center of the treasury strategy set an example for other companies with this approach. These include Strategy (formerly Microstrategy), led by Michael Saylor, and Japan -based metaplanet.
However, Novogratz said that the new entrances on the use of crypto assets in the company treasury saw the summit. According to him, existing companies will continue to grow in the market and contribute to the long -term potential of the sector. Novogratz expressed his opinion on this issue as follows:
We probably saw the summit of the expulsions of treasury companies.
Galaxy Digital operates as a financial services and investment company that focuses on digital assets and blockynti technologies. The company offers asset management and crypto -oriented financial solutions for corporate customers.
Record Bitcoin sale from Galaxy Digital
Galaxy Digital made a large -scale sales of 80,000 Bitcoin on behalf of a customer whose name was not announced. This sales were recorded as one of the biggest transactions in the sector and the entire sales were quickly met by important corporate buyers. Novogratz expressed his satisfaction with the timing of sales and demand in the market with the following words:
Call this, luck, fortune or timing, but the implementation of this sale coincided with the period of a great desire to buy.
In addition, Novogratz said that crypto assets in the balance sheet structure of the companies play an important role in such major operations.
Large exits in US Spot Bitcoin ETFs
Bitcoin prices have declined by around 3 percent in the last week and traded at US $ 113,937. In the US -based Spot Bitcoin ETFs, successive sales have been realized for four trading days. As of the beginning of August, the funds sold a total of $ 1.2 billion worth of BTC, and thus the long -standing net entrance series has ended.
However, ETFs continue to keep 6.1 percent of the total Bitcoin supply. This ratio corresponds to 1.2 million BTC and worth approximately $ 146.7 billion. Developments related to the Istanbul Stock Exchange and Crypto markets are closely monitored in the sector.
Analysts evaluate that the growth of existing companies and large -scale transactions can lead to long -term fluctuations in the sector. According to Novogratz’s comments, the transformation in the structure of the market is shaped by the change of individual and institutional demand.
As a result, evaluations that companies have slowed down in the use of Bitcoin as treasure reserves and the role of corporate investors in the market is increasing.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
