New York Excellence in Leadership Award Dinner Honoring Jacqueline Novogratz


Bank Novogratz suffers losses again.

Bank Novogratz again suffers losses ...

Lost almost $ 30 million in the first quarter of 2020

  • Novogratz’s business has had bad luck for the third quarter in a row.

  • Ex-Wall Street Trader Hopes For A Soon Bitcoin Price Recovery.

  • “Helicopter money” can be a salvation, but only short-term.

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Prior to this, a well-known cryptocurrency influencer announced his intention to leave the market if Bitcoin does not change in price.

Galaxy Digital Holding, a cryptocurrency bank owned by bitcoin influencer and ex-trader Mike Novogratz, suffers financial losses for the third quarter in a row.

According to published reports, Galaxy Digital Holding suffered losses in the amount of $ 27.7 million in the first quarter of 2020.

Recall that in the IV quarter of 2019, the Novogratz cryptobank lost almost $ 33 million.

Bank Novogratz again suffers losses ...

Over the last two quarters of last year, the cryptocurrency bank did report losses in the amount of more than $ 100 million.

Against the stream

The unstable economic situation not only in the bitcoin market, but also in traditional financial markets has caused significant damage to Novogratz’s business.

However, the editorial staff of BeInCrypto has already found a way to make money on cryptocurrency with little or no risk and outlined the key steps.

A well-known supporter of cryptocurrencies even managed to announce that he will leave the cryptocurrency market if Bitcoin cannot start growing in 2020..

“If it [bitcoin] does not grow significantly by the end of the year, then I might just retire..

Bank Novogratz again suffers losses ...

If it doesn’t start growing now, then I don’t know when it should happen at all, “Novogratz said earlier..

Salvation in money

Amid increased volatility that pushes bitcoin’s price back from the $ 9,500 ceiling to $ 8,900, Novogratz saw signs of a high point for the largest cryptocurrency by market capitalization..

A well-known bitcoin supporter believes that due to the fiscal stimulus of the economy, which is expressed in the distribution of “helicopter money”, more and more investors will focus on cryptocurrencies.

Previously BeInCrypto editors wrote, that Japanese Prime Minister Shinzo Abe doubled his stimulus in a rush to deliver on his promise to keep businesses and households afloat.

On Wednesday, Japan’s cabinet approved a $ 1.1 trillion stimulus to the economy, on top of the $ 990 billion approved in April this year..

What do you think? Will Bank Novogratz be able to start making profit without losses already this year? Share with us with your thoughts in the comments and join discussions in our Telegram channel.


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Bank Novogratz again suffers losses ...

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