Micheal Novogratz earmarks $100 million into digital startups.
Cryptocurrency billionaire investor CEO of Galaxy Digital, Micheal Novogratz, previously invested in startups for multiple years using its resources, ranging between $30 million and $50 million annually.
Galaxy Digital’s new Galaxy Ventures Fund I LP raised $113 million to benefit startups focusing on crypto software, infrastructure and financial applications. The new venture fund allows outside entities to invest in the portfolio.
The venture capital fund, a part of Galaxy Ventures unit, aims to raise $150 million and invest in about 30 startups.
“Galaxy Digital’s new Galaxy Ventures Fund raised $113 million to benefit startups focusing on crypto software, infrastructure and financial applications”
WEALTH TRAINING COMPANY
Micheal Novogratz earmarks $100 million into digital startups, underscoring the utility of crypto technology, its software and the growing role cryptocurrencies will have in advanced economies for decades
“Our macro view is that blockchains will be utilized to settle a majority of transactions. It’s a one-, two-decade transition that we are betting on,” said Mike Giampapa, Galaxy’s general partner.
A blockchain is a distributed database that maintains a continuously growing list of ordered records, called blocks.” These blocks are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.
So, unlike AI technology, which has yet proven to have a profitable application in business, blockchain technology has already passed the application of technology for profits test.
The European Central Bank is using Ethereum blockchain technology for peer to peer selling of euro bonds, thereby bypassing brokers and saving millions of euros in commissions.
Blockchain technology applications in creating smart contracts could revolutionize real estate transactions and the insurance market, finance and loan markets, to name a few.
“Our macro view is that blockchains will be utilized to settle a majority of transactions. It’s a one-, two-decade transition that we are betting on”
MIKE GIAMPAPA
Micheal Novogratz earmarks $100 million into digital startups across 20 different projects
Galaxy Ventures is seeding between $3 million and $5 million per project.
Galaxy Ventures has invested in over 100 companies, including Ethena, Monad and Plume.
“This fund will strengthen our commitment to fostering innovation in the digital asset space, enabling us to back visionary startups and gain unparalleled insights into the emerging technologies that will shape both our company and the future of finance,” said Steve Kurz, Galaxy’s global head of asset management.
“the crypto capital of the planet and bitcoin superpower of the world”
– Donald Trump
Cryptocurrencies enter the 2024 US presidential elections as Micheal Novogratz earmarks $100 million into digital startups
Trump hailed crypto at the Bitcoin conference and promised to ensure America becomes “the crypto capital of the planet and bitcoin superpower of the world.”
Kamala Harris will no doubt be scrambling to devise a digital asset policy framework to pander to pro-crypto voters and, most importantly, any potential crypto donors.
Early this year, February Blackrock, the world’s largest asset manager, allegedly recommended a bold 28% allocation to Bitcoin in investor portfolios.
So Micheal Novogratz earmarks $100 million into digital startups, Blackrock recommends bitcoin and presidential candidates are outdoing themselves to project friendly digital policies, does your portfolio have digital assets?
