Since August first cryptocurrency Bank Galaxy Digital start trading on TSX venture exchange, located in Toronto.
Recall that the Bank opened by an investor-billionaire Michael Novogratz (Michael Novogratz) back in January, but final approval from canadian regulators, he received just now.
In an interview with Bloomberg, BNN Toronto, Novogratz called the permit process “frustrating” due to the time required to obtain it.
“If I knew then what I know now, that kriptonyte so much and will subside, I could wait another year or so, and then take the Bank public. But I don’t think it was a mistake,” said Novogratz.
The significant period required for a listing, due to the fact that Galaxy Digital decided to go through a reverse merger with a company registered on the TSX. Regulators carefully considered the deal and decided to postpone final approval of listing from April to August.
According to the quarterly report of the Bank for the first three months of 2018 Galaxy Digital lost $ 134 million mainly due to the fall in the price of the cryptocurrency.
In a conversation with Bloomberg, Novogratz noted that in his opinion the price of cryptocurrencies will jump, assuming that the price of bitcoins will soon again be able to reach $10 000.
“I think we are now at the bottom of the market. This is due to waiting for the approval of ETF. If this happens in a few weeks the price will reach $10 000. However, I don’t think that a move above will be easy.”
He also stressed that in order for the investors started to trust cryptoprocessor, they need more tools.
“I don’t think we will see $10 000 before reputable names will present solutions for the storage assets,” he added.
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