RE:RE:RE:RE:RE:RE:Bakkt launches today....Two things, Bakkt and the currant price of Bitcoin.
Bakkt launched, Galaxy has a 5 million USD investment into Bakkt. My question is after trying to find this on the net, I could not, so what percent of Bakkt does Galaxy own? It is 5% or less. Some heavy hitters in this business and I think longer term Galaxy is going to make some money from this, as the "house" never looses.
Price of Bitcoin is just remarkable. Gcap1, you seem to have a handle on this, price of Galaxy could go to 1.30, and then rally. As we all know GLXY has a lot of bitcoin, and so the price of bitcoin does effect the price of GLXY. My concern is that this stock is so minimally traded with such low volumes that nobody but about 20 human beings and a bunch of algos trade this thing. I exagerate, but it is sparsely traded. So that means very poor price discovery and very high volitility as me or you or another investor can personally move the price. This is very high risk. Price of bitcoin is one thing but the overall business of GLXY is another, and so my view is that they are not correlated well at all.
I sure hope this stock repurchasing gets approved soon, price for the shares are so low now the cynic in me thinks this is some sort of manipulation to drive price down ahead of company share buy back. But I hate to be a cynic. Comments....