Bitcoin revolution in Latin America: ECB boss Lagarde unimpressed

by Patricia Lin
Bitcoin revolution in Latin America: ECB boss Lagarde unimpressed

You don't essentially must buy Bitcoin to learn from the expansion within the crypto market. This exhibits the share efficiency of Bitcoin Group SE.

It doesn't all the time must be a direct funding in Bitcoin and Co. Shares in listed firms with a deal with crypto have additionally made some huge cash in current months. Bitcoin Group SE proves this within the present annual report for 2020.

Worthwhile funding: "Bitcoin stocks"

The holding firm calculates a rise in worth of round 342 %. The Bitcoin Group SE was in a position to greater than double the gross sales income in comparison with the earlier yr – primarily based on “a strong increase in trading sales on the crypto currency platform”. The backside line is “earnings per share of EUR 1.90, which corresponds to an increase over the previous year (EUR 0.43 per share) of 342 percent”.

The robust progress of Bitcoin Group SE went hand in hand with the large enhance in demand for cryptocurrencies within the 2020 monetary yr. In view of the upheavals within the monetary markets triggered by the corona pandemic and the trillion greenback assist applications within the context of traditionally low rates of interest, the demand for crypto property has elevated considerably, each amongst personal and institutional traders.

In specific, BTC would have “established itself as an alternative asset class for asset accumulation and asset management”. For the present yr, the Bitcoin Group SE expects “moderately to strongly increasing sales revenues” and forecasts “for earnings before interest, taxes, depreciation and amortization” gross sales “in the lower to mid double-digit million range”.

The foremost motive for the success is the robust progress of the crypto buying and selling platform, which is operated by the subsidiary Futurum Bank AG. The platform may have 79,000 new clients in 2020 alone, and a complete of 919,000 registered clients on the finish of final yr. With at the moment 975,000 customers, the shopper base can also be quickly approaching the million mark.

Bitcoin Group SE is listed on the first market of the Düsseldorf Stock Exchange in addition to on all different German inventory exchanges and XETRA. (Stock trade abbreviation: ADE, ISIN: DE000A1TNV91, WKN: A1TNV9).

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