Galaxy Digital, the cryptocurrency-focused investment company of famous billionaire Mike Novogratz, attracted attention with the long position it took on Bitcoin (BTC) and Ethereum (ETH).
Galaxy Digital has started its preparations for a possible rise. According to data transmitted by the on-chain analysis platform Lookonchain, the company took a long position in Bitcoin (BTC), Ethereum (ETH) on Compound (COMP) and Aave (AAVE) decentralized exchanges (DEX).
The data revealed that Galaxy Digital deposited 4,168 WBTC worth $142 million and 16,000 ETH worth $28.6 million, and then borrowed 71.6 million Tether (USDT) and 21.9 million USD Coin (USDC). It clearly demonstrated that the company has a bullish attitude in the cryptocurrency market with its millions of dollars long position opened with Bitcoin and Ethereum collateral.
Novogratz, the founder of the company, has frequently come to the fore with his statements supporting Bitcoin and Ethereum in the past period. Novogratz stated that in his prediction for 2024, Bitcoin would reach the 500 thousand dollar range.
According to CoinGecko data, Bitcoin has increased by 0.3%, Ethereum by 0.1% and AAVE by 2.8% in the last 24 hours.
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