Galaxy Digital Holds $921 Million in On-Chain Assets, Dominated by Bitcoin (BTC)
Main Idea
Galaxy Digital holds $921 million in on-chain assets as of mid-2024, with Bitcoin (BTC) dominating 65% of the portfolio, reflecting its market leadership and institutional confidence.
Key Points
1. Galaxy Digital's total on-chain assets amount to $921 million, with Bitcoin (BTC) comprising $600 million (65%) of the portfolio.
2. Ethereum (ETH) represents $200 million (22%), while other cryptocurrencies make up $121 million (13%).
3. The firm's asset allocation signals strong confidence in Bitcoin and Ethereum, which together account for nearly 87% of its holdings.
4. Galaxy Digital's preference for Bitcoin is attributed to its market leadership, liquidity, and appeal to institutional investors.
5. The portfolio's distribution suggests a measured exposure to emerging digital assets alongside dominant cryptocurrencies.
Description
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