September 23rd, 2021 | 13:21 CEST
BIGG Digital Assets, Bitcoin Group, Coinbase - Invest in the future with crypto!
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Born in Munich, he first studied economics and graduated in business administration at the Ludwig-Maximilians-University in 1995. As he was involved with the stock market at a very early stage, he now has more than 30 years of experience in the capital markets.
Bitcoin Group - Crypto is rising in popularity
Bitcoin Group SE is a holding company focused on innovative and disruptive business models and cryptocurrency and blockchain technologies. The Group holds 100% of the shares in futurum bank AG, which operates a trading platform for selected digital currencies under Bitcoin.de. Furthermore, it owns 50% of the shares in Sineus Financial Services GmbH, a financial services provider supervised by BaFin.
Bitcoin Group continues to benefit from the high interest in cryptocurrencies. Although the market was very volatile, especially in the summer, the price quotations of essential coins have continued to rise compared to the Company's update in February 2021. As a result, futurum bank AG's holdings of cryptocurrencies amounted to EUR 182.8 million as of August 30, 2021, up from EUR 170 million in February. In addition, there is a stock of cash and cash equivalents within the Group of about EUR 15 million. Of course, this is only a snapshot but underpins the current price level.
In an environment of rising uncertainty in the markets and higher inflation, coins are gaining importance, especially when it comes to investing. Bitcoin.de is a trading platform for crypto assets licensed in Germany with more than one million customers. The cryptocurrencies managed by Bitcoin.de are almost exclusively held in secure cold wallets, which are disconnected from the Internet.
The Bitcoin Group share was already at EUR 83.80 in 2021 and subsequently corrected by more than 50%. Currently, it is trading at EUR 38.30, just above your holdings plus cash; the platform and customer base is valued at zero. Collect.
BIGG Digital Assets - Valuable footholds in the crypto market
Canadian security and IT firm BIGG Digital Assets Inc. is also very well positioned in the crypto market. On the one hand, the business in the Blockchain Intelligence Group area with software licenses for forensic investigations on the part of public institutions is doing exceptionally well. On the other hand, the Company operates Netcoins, a licensed platform for online crypto trading in Canada. Currently, the Company is seeking full regulation by the Canadian financial regulator.
At the half-year mark of 2021, proprietary trading in Bitcoins and other cryptocurrencies continues to be profitable, which had to lose some ground during the first summer months due to strong price corrections. High-volatility days are usually bad for stock market trades, but for Bitcoin and crypto assets, they cause unprecedented trading volumes, inducing sharply rising revenues even as assets temporarily trend downward. Netcoins sit in the middle of these trading flows!
The current figures as of June 30, 2021, thus show explosive growth compared to the previous year. Revenue increased to CAD 4.55 million with a focus on the Netcoins subsidiary, and this is 24% more than the previous quarter and over 2000% of the prior year when the numbers were, of course, still very low. The number of active customers rose to 19,000, again up 40% on the previous quarter. With its treasury, the Group has now accumulated various coins worth CAD 65 million and counting. For the first time, BIGG also achieved black figures based on adjusted EBITDA. In our opinion, the growth phase is far from over.
BIGG's stock has retreated significantly since its April 2021 high of over CAD 5 and currently costs CAD 1.04. We feel that a good CAD 200 million market capitalization is far more appropriate than the hype prices with billion-dollar valuations in the spring. Now it is also possible to get in cheaply again!
Coinbase - Plans for crypto lending platform withdrawn
Coinbase Global Inc. has put its plans to launch its "Lend" program on hold following pressure from the US Securities and Exchange Commission (SEC). The decision comes weeks after a public dispute between Coinbase and the SEC over the matter. Lend was supposed to allow users to earn interest by lending crypto assets. This very innovative bank-like business idea could not be approved by regulators in the US, as this is where oversight would likely reach its limits.
Following the recent news, Coinbase has also discontinued the waiting list for this program. The Company claims that hundreds of thousands of customers from across the country had signed up for the program. The decision to put Lend on hold is a major blow to the crypto trader, as it was intended to expand and diversify its product base. The SEC now seems to have woken up and, under its new chairman, Gary Gensler, has announced that it will continue to crack down on the crypto market.
Coinbase shares had started with great success on the stock market in May, reaching a high of USD 429. Even at the current price of USD 241, the market capitalization is still at USD 50.8 billion. The stock has a 2021 P/E of 30 and a price-to-sales ratio of 10. Of 23 analysts, 13 recommend buying the Company, and the median price target is USD 377 - that would be a possible 50% upside as of today.
The companies under review here operate in the cryptocurrency environment. As such, they are part of a new digital investment world that has now achieved great significance as an asset class. Bitcoin Group and Coinbase specialize in trading and offer successful platforms. As a holding company, BIGG Digital Assets Inc. covers trading and proprietary trading and provides a tool for forensic investigations with its QLUE software.
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