In an April 7, 2024 dated released interview with Scott Melker, Mike Novogratz discusses:
- Why he has 2/3 of his net worth in crypto and Blockchain.
- Galaxy’s turnaround from 2022 disaster in crypto to Blue-sky, everything is working great in 2024.
- TradFi shifting to tokenization of securities and debt towards tokenization of everything of value.
- Novogratz is one of the loudest voices promoting crypto and Blockchain. He believes this is a technological revolution that is changing the world similarly to how the internet changed the world.
- This is not only a technology change of enormous proportion, but a path out of the falling purchasing power of fiat currencies around the world.
Why Mega Bull Billionaire Mike Novogratz Has The Majority Of His Net Worth In Bitcoin & Crypto – 58 minutes at YouTube
Galaxy Digital (BRPHF*) $11.84 stock is breaking out of its base that was in December 2022.
Galaxy is no longer the “value” it was at its lows in November / December 2022. It is now a stage 2 chart pattern driven by strong momentum in both fundamental and technical growth.
Therefore, treat this as a momentum stock with strong fundamentals. Galaxy retired shares in 2022 and 2023 through share buy-backs. With fewer shares outstanding than when the stock was at $35 per share in 2021, the shares have the potential to return to the high twenty dollar – low thirty dollar mark. LOTM said that when the shares were under $3.00 in the last month of 2022. We are still saying this with the shares at $11.84. Saying this does not make us blind believers. We will adapt to industry changes, Geo-political events, USA national policy changes and elections.
Accounts related to LOTM dollar cost averaged into the shares as they were falling bd sold our highest cost shares as part of tax management plan. Galaxy is not the safe low risk value it was 15 months ago. Treat it as a hot momentum stock. I am not buying Galaxy nor am I selling.
LOTM is fully invested (many feel too early) in precious metals and crypto/blockchain. Galaxy is our largest individual position in related LOTM accounts. We are now in the stage of riding the wave as long as we can and shifting to a slow staging out
LOTM has identified our new target ideas – post this move in crypto/blockchain & Gold/Silver. As we do rotate out of gold / silver and crypto ideas, we will slowly be building position in the new target ideas. At this time, we have the feeling Precious Metals and crypto assets can run into elections and year-end 2024.
For now, we have a strong hold on gold silver and crypto related ideas. If a sharp sell off hit this sector we’d start buying again as long as the story has not changed.
The key question is – can galaxy double from $12 to $24?
Yes, I believe that is possible. Keep in mind the stock has already quadrupled from its low below $3.00 to $12 at this time.
Our risk management style is dollar-cost-average into a position and dollar-cost average out of positions over two to four year cycles. This approach is not for everyone. You must self-identify if it is. If it is, we hope you keep reading the blog.
Peace happiness success.
Tom
Accounts related to LOTM and Tom Linzmeier can & will, buy or sell securities at any time.
LOTM Research & Consulting Service
* An account related to LOTM holds a position in this security.
Neither LOTM nor Tom Linzmeier is a Registered Investment Advisor.
Consult your investment advisor for investment advice appropriate for your situation.
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