Peter Thiel-Backed Exchange Bitpanda Moves Closer To IPO Anticipating Massive 2024 Profits

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As an experienced crypto investor with a keen eye for potential growth opportunities, I must admit that the news about Bitpanda’s potential IPO has piqued my interest significantly. Having witnessed the meteoric rise and fall of various digital assets over the years, I have learned to appreciate the value of a solid foundation, strategic partnerships, and a forward-thinking business model – all elements that seem to be present in Bitpanda’s case.

According to reports, Bitpanda GmbH, a cryptocurrency trading company based in Vienna, is contemplating various strategic moves, one of which might involve an Initial Public Offering (IPO) in Frankfurt. This move could potentially be backed by Peter Thiel, a billionaire investor and co-founder of PayPal.

Based on a Bloomberg report, it appears that the firm is engaged in negotiations with significant banks like Citigroup Inc. and JPMorgan Chase & Co. about potential opportunities.

Potential IPO On The Horizon For Bitpanda

According to recent reports, if Bitpanda moves forward with a possible IPO or comparable deal, its valuation may reach around $4 billion or higher, according to sources privy to the details of the situation.

The current discussions indicate that although a Initial Public Offering (IPO) is being considered, the company might decide against finalizing any such deal in the end. Neither Citi nor JPMorgan have provided comments on this matter, and Bitpanda has yet to respond to our queries for further details.

Established in 2014, Bitpanda provides various trading options such as cryptocurrencies, stock alternatives, and commodities.

In August 2021, the startup received an estimated value of 4.1 billion dollars following a successful fundraising round of 263 million dollars from notable investors such as Valar Ventures led by Peter Thiel, Alan Howard – a wealthy financier, and REDO Ventures.

From Losses To Profits

2024 is projected to bring a new high in profits for Bitpanda, as they’ve already raked in more than 100 million euros (around $108 million) in just the initial quarter of this year.

2023 has seen a substantial reversal compared to the last year. In contrast to the €130 million losses experienced in 2022, it achieved a pre-tax profit of approximately €13.6 million this time around.

Additionally, with the aim of improving its services, Bitpanda declared in June that they will offer Deutsche Bank IBANs to their German clients. This allows for instant transfers between client’s accounts and their brokerage accounts, potentially simplifying transactions and boosting user satisfaction.

As a market analyst, I’m seeing a surge of interest in Bitpanda’s potential Initial Public Offering (IPO), coinciding with an impressive uptrend in the cryptocurrency market. This momentum is primarily driven by the top cryptocurrency, which is nearing its historic high of $73,700, a level last seen in March 2024.

In summary, following the approval of Bitcoin ETFs by U.S. regulators, there was a surge in cryptocurrencies as they became more appealing to prospective investors. However, this was followed by a significant correction phase around mid-year, and now, the overall digital asset market is experiencing a rebound.

Additionally, the conjecture about a potential win for the pro-cryptocurrency Republican nominee, Donald Trump, in the approaching U.S. presidential election, has added to the enthusiasm in the market.

Experts believe that if Trump’s method and pledges of fresh regulations and backing for innovation and expansion within the sector are implemented, Bitcoin might spearhead a broader market surge predicted towards the end of the year, possibly reaching unprecedented peak values.

Optimism is running strong, clearly demonstrated by the impressive rebound observed across the entire cryptocurrency market, with its total capitalization now sitting at approximately $2.3 trillion – a significant recovery following a near-$200 billion drop in value just a few days ago.

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2024-10-29 08:12