I could not resist adding another bitcoin-related stock from the bitcointreasuries.org list. Having already bought five on that list and feeling more comfortable buying bitcoin-related stocks than the underlying cryptocurrency, I bought some shares in Galaxy Digital (T.GLXY) this morning after planning it out last night reading about their earnings.
For some due diligence, I reviewed some posts on Stockhouse.com, which described GLXY as -
Galaxy Digital Holdings Ltd is a diversified, multi-service merchant bank dedicated to the digital assets and blockchain technology industry. The company operates through four business lines: Trading, Principal investing, Asset management, and Advisory services.
I knew that their CEO was former Goldman Sachs vice-president and hedge fund manager Mike Novogratz as I had seen some of his previous interviews.
Furthermore, I watched Novogratz's latest interview as a guest on Nugget News' podcast on Youtube. The interview was quite insightful and only solidified my yearning to buy the stock.
After a night of overthinking, I woke up late and saw that GLXY had already moved up by 6% early. I decided to buy anyways. I scanned my portfolio and saw that one of my gold stocks had faltered recently so I sold it. While I have had some very good success with a couple gold stocks, I had to sell that one in order to buy into GLXY, which I bought at $6.60. At the end of the day, it was $6.75, which was a decent start.