Galaxy CEO Mike Novogratz said the “blue wave” has pressured the company but cautioned against confusing politics with long-term fundamentals. According to Foresight News, he described the shift of finance onto blockchain and surging demand for AI as generational changes that span political administrations and market cycles.

Galaxy will continue working with the new administration on priorities including reliable power, water conservation and community development. Novogratz said he believes GLXY’s current trading price is significantly disconnected from the company’s value and that Galaxy will increase its stock holdings starting now.

Foresight News noted that “blue wave” is a U.S. political term for a major Democratic victory in an election.