Bitcoin Bull Michael Novogratz’s company, Galaxy Digital, has acquired two cryptocurrency firms in preparation to meet a “bigger wave of institutional demand” for bitcoin.

Big Wave of Institutional Demand for Bitcoin Incoming

Galaxy Digital Holdings announced Friday that it has acquired two cryptocurrency trading firms: Drawbridge Lending and Blue Fire Capital.

New York City-headquartered crypto financial services and investment management company Galaxy Digital provides trading, asset management, and investment banking services.

“Institutional investors and corporates are becoming more knowledgeable and comfortable with digital assets and they are increasingly grasping the purpose and importance of cryptocurrency in their investment strategies,” commented Mike Novogratz, founder and CEO of Galaxy Digital.

During his company’s Q3 2020 earnings call on Friday, Novogratz said that the Covid-19 pandemic was “really an accelerant for the cryptocurrency business for bitcoin, for blockchain,…

Click to continue reading on its source location…

Source: https://news.bitcoin.com/galaxy-digital-acquires-crypto-firms-institutional-demand-bitcoin/