Galaxy Digital Sells Its Shares In Block One Worth $ 71.2 M

 Digital Holding is an investor in Block.one, the founder of EOS , which on May 20 disclosed that it had accepted an offer to sell its shares, according to the statement.

Galaxy Digital announced that it had sold its stake for $ 71.2 million, making a 123% return on its investment in Block.One, the company behind the development of the EOS .

Michael Novogratz, CEO and founder of Galaxy Digital, said the company’s relationship with Block.One did not end, but this is an attempt to rebalance and diversify the company’s portfolio appropriately.

We are constantly working closely with Block.One as a key partner in a number of our businesses, including the Galaxy EOS investment fund, which invests in companies based on EOS

Galaxy Digital invested $ 325 million in Block.One in 2018, with the aim of developing the EOS ecosystem.

Block.One has provided a stock repurchase service to investors after valuing the company at $ 2.3 billion, nearly 66 times the value of the first financing round in 2017.

For example, one who bought the stock in 2017, worth $ 22.5, could sell the share to the company now at $ 1500 per share.

However, it seems that the price of the EOS currency was not affected by this news, either negatively or positively.

 

Please note, that is not a bit of financial advice, nor the WhaleToBe team’s view

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