11. November 2021 | 10:21 CET
Mastercard, CoinAnalyst, Coinbase - Open to the top
With a new high of over USD 68,000, the path is clear for the largest currency in crypto trading, Bitcoin. Industry experts are already predicting prices in the six-figure range. Cryptocurrencies are reaching the mainstream. More and more companies are offering the virtual gold as a means of payment. In addition, new start-ups are springing up like mushrooms to take advantage of the momentum. In this context, the new, digital business models offer a great opportunity to participate in the trend towards virtual money.
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ISIN: MASTERCARD INC.A DL-_0001 | US57636Q1040 , CoinAnalyst Corp. | CA19260U1084 , Coinbase | US19260Q1076
Mastercard incorporates cryptos
One of the most important prerequisites of Bitcoin & Co. is the acceptance of the currencies by major financial service providers and institutions from the credit card sector. Thus, the integration of virtual currencies into Mastercard's payment offering, initially for the Asia-Pacific region, should be considered a milestone in the financial industry. In cooperation with Amber Group and Bitkub in Thailand and CoinJar in Australia, payment cards funded by cryptocurrencies are to be introduced. Cardholders can use them to convert their cryptocurrencies into traditional fiat currency and subsequently spend them at all Mastercard acceptance points.
The pilot project in the APAC region could be used to prepare for adaptation to the other areas of the world. There is already cooperation with Bakkt, a bitcoin futures exchange of the Intercontinental Exchange (ICE) with crypto custody services. Mastercard is arguably preparing here for entrepreneurs and banks in the United States to expand their offerings with cryptocurrencies. That will make the credit card provider a pioneer in the industry. The shares of the USD 339.00 billion group rose by more than 3% after the news and are on the verge of a strong buy signal at USD 350.00.
New analysis platform launched
Data analytics companies are currently in demand on the stock market and are adorned with great advance praise in terms of valuation. It can be clearly seen in the US company Palantir Technologies. The stock market value is a remarkable USD 48.62 billion. The group grew by almost 40% in the third quarter, but the loss was still over USD 100 million. The newly listed Company CoinAnalyst on the Frankfurt Stock Exchange is still far away from such figures, but the business model of the Canadians is innovative in any case.
With just under EUR 12.84 million, the Vancouver-based big data analytics company is still beginning its journey. The developed artificial intelligence-based Big Data analytics platform allows users in the digital asset sector to access a personalized dashboard that analyzes real-time data from the cryptocurrency market, such as coins, tokens and NFTs. In doing so, the system scans over 300 sources, which are constantly being expanded, and ranks sentiment analysis, forecasts, and trading signals.
For the first quarter of 2022, COO Andrew Sazama promised the launch of a mobile app. The payment runs via a personalized subscription model and is intended to appeal to professional traders and B2B institutions in addition to regular crypto investors. It also plans to expand its copy trading division further, which launched in the first quarter of this year and has given users an average annual performance of 59.8%. The revenue forecasts show the ambitions of the management. If the Canadians expect revenues of EUR 0.62 million this year, it should amount to EUR 11.92 million in 2023. Interested investors should take a closer look at this exciting company.
Due to the increasing acceptance and the prices of cryptocurrencies, one could also expect strong figures from the largest trading platform Coinbase. However, the US-based company was far from being able to match the successful previous quarter. Investors responded to the figures with a minus of more percent. Revenues increased more than fourfold to USD 1.2 billion compared to the same period last year, but compared to the second quarter of the current year, it meant a drop of a whopping 40%.
At the same time, Coinbase's revenue was below analysts' consensus. Earnings per share came in at USD 1.62, slightly exceeding analysts' opinions here, which had assumed USD 1.56. Still, compared to the previous quarter, when USD 6.42 per share was earned, this represents a stark discount. Although Coinbase should benefit from the volatility in the industry, one should wait for the share to calm down after the publication of the figures.
Bitcoin is at an all-time high and, according to experts, should continue to rise. The increasing acceptance of virtual currency by institutions such as Mastercard should further fuel the price. CoinAnalyst recently launched on the Frankfurt Stock Exchange and is likely to follow in the wake of the hype; with Coinbase, investors should wait and see after the figures.