An executive at bitcoin king Mike Novogratz’s crypto firm explains why hiking 40 miles in the Grand Canyon helped him make better decisions

Galaxy’s Steve Kurz Galaxy Digital
  • Steve Kurz, 33, followed his former boss Mike Novogratz to Galaxy Digital Capital Management, where he’s the head of asset management.
  • He was featured as part of Business Insider’s Rising Stars of Wall Street list.
  • Kurz gives advice about how to take risks and get up-to-speed in crypto.

One of the biggest mistakes young Wall Streeters can make right now is to skip learning about crypto, says Steve Kurz, head of asset management at Galaxy Digital Capital Management.

“The world is changing faster than people understand and it’s changing in more fundamental ways that haven’t fully been revealed,” Kurz, who is part of BI’s Rising Stars of Wall Street list, said. “Especially early in your career, and especially if these are big seismic tech trends that affect all parts of the world, the real risk is not taking a risk and not learning.”

Kurz got his start at investment firm Fortress Investment Group before working at a credit fund, and dabbling in angel investing. He founded his own company, then joined his former Fortress boss, Mike Novogratz, at Galaxy, the crypto-focused investment firm.

Despite working for a marquee name in crypto, Kurz cautions that “no one knows how [crypto] is going to play out.” The technology could affect broad swaths of the economy’s building blocks, from banks to currency. He said that underscores the need to learn about the technology, even if a planned career trajectory doesn’t necessarily include crypto entrepreneurship.

To get up-to-speed in crypto, Kurz recommends attending public meet-ups to network, learn, and find job opportunities.

It’s also important to take a step back. Kurz advocates taking time to get away from finance and reflect – which he admits is difficult to do for young Wall Streeters with fast-moving careers. Earlier this fall, for example, he hiked 40 miles in the Grand Canyon with a friend. Building in a time to step back from work augments the decision-making process.

“It wasn’t the convenient thing to do, but … being outside and then coming back energised me and allowed me to connect dots I wouldn’t have otherwise connected,” he said.