Galaxy Digital founder and CEO Mike Novogratz bought 500,000 ETH from the Ethereum Foundation at less than a dollar each, he revealed in an interview on Nov. 10.
- Novogratz was interviewed by Nugget’s News Alex Saunders, and spoke a range of topics including Bitcoin, his appreciation for Ethereum and investment outlooks
- He initially said in the interview that he had bought the tokens from Buterin, but the latter clarified over Twitter that the Ethereum Foundation was the seller
- However, Vitalik and Novogratz did have a conversation in the comments, eventually settling on selling 500,000 at $0.99
- Ether now trades for roughly $470, putting the total value of that purchase at approximately $235 million
- Novogratz had sold some of the ETH in 2018, when the price was at $1200, but has largely held onto the asset
- Galaxy Digital has had a strong 2020, reporting a net income of $44.3 million, with its institutional Bitcoin providing returns of 125.7% YTD; the company is all set to launch a new Bitcoin fund in Canada
