benzinga110d ago
Galaxy Digital Inc (NASDAQ:GLXY) is trading higher Wednesday morning as Bitcoin (CRYPTO: BTC) rallies, lifting sentiment for crypto-related stocks. Bitcoin is moving above $73,000 before noon ET, rising about 6.5% on the day. Here’s what investors need to know.Galaxy Digital stock is among today’s top performers. What’s driving GLXY stock higher?Why Bitcoin Strength Boosts Galaxy Digital StockThe tie between bitcoin and GLXY is straightforward: when bitcoin rises, the value of crypto assets held across the industry generally increases, and investors often reprice crypto-exposed businesses higher in anticipation of stronger activity and improved profitability. For Galaxy Digital, a higher bitcoin price can translate into stronger demand for trading, ...Full story available on Benzinga.com