Galaxy Digital Can't Escape The Crypto Mania (Rating Downgrade)

Cyn Research733 FollowersFollow5ShareSavePlay(10min)CommentsSummaryDowngrade to Hold: Galaxy Digital still trades mostly with crypto, and I see a weaker setup for Bitcoin from here.Hotter inflation and slower rate-cut expectations are a bad mix for a liquidity-driven asset like Bitcoin.If crypto stays weak, Galaxy gets hit through investment losses, lower trading volumes, and lower AUM/fee income.Not a sell because valuation is no longer stretched and Helios adds cash flow support. alex-mit/iStock via Getty Images Introduction My last Buy rating on Galaxy Digital Inc. (GLXY) has not worked out too well so far, and since then the stock is down 33%, though I still believe in GLXY's potential in theThis article was written byCyn Research733 FollowersFollowHi! I'm a passionate investor who has been researching publically traded companies for over 6 years. My primary focus is on identifying great businesses at reasonable prices and holding them for the long term but I also dive into trend following strategies from time to time. While I have a slight bias toward technology companies, I maintain a broad perspective, including opportunities in crypto. I take a global approach to investing, occasionally seeking value beyond the U.S. market. Thanks for reading!Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.