#CryptoCorner: Galaxy Digital (TSXV: GLXY) Starting Bitcoin Funds, Bakkt (NYSE: ICE) to Store Galaxy BTC, PayPal (Nasdaq: PYPL) Leads Funding Round for Crypto Risk Management Platform

Point Roberts, WA and Delta, BC – November 20, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market.

Listen to today’s Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2019/112019-CryptoMarket.mp3

#CryptoCorner: Galaxy Digital (TSXV: GLXY) Starting Bitcoin Funds, Bakkt (NYSE: ICE) to Store Galaxy BTC, PayPal (Nasdaq: PYPL)Leads Funding Round for Crypto Risk Management Platform

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Stocks discussed: (TSXV:GLXY) (NYSE:ICE) (NasdaqGS:PYPL)

Galaxy Digital Holdings Ltd. (TSXV:GLXY) is starting two Bitcoin (BTC) funds for accredited and institutional investors, according to a Bloomberg interview with the company’s CEO Michael Novogratz. Novogratz indicated that the initiative would target the wealthy in America “or people between 50 and 80 who may have stayed largely on the sidelines of cryptocurrency investing”. Novogratz said:

“You are seeing Bitcoin way outperform other coins right now, and I think that will continue until these coins start to get used for things. You also get more credentialed people — there are probably 20 billionaires I could name that made their money outside of crypto and are in crypto now. Every speculative asset needs people to tell the story, and people are buying the story.”

CoinDesk reports that Bakkt, the digital assets firm owned by Intercontinental Exchange (NYSE:ICE), would store the Bitcoin for Galaxy’s two new funds. Kelly Loeffler, CEO of Bakkt, said:

“As institutions and sophisticated investors seek exposure to digital assets through new investment products, they are seeking the highest standards in asset security. The Bakkt Warehouse was designed to offer institutional-grade custody in safeguarding digital assets and to…

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