Their growth rate is staggering, and they are enormously profitable. I was most stunned by the gross margins. They spend so little to make so much. It illustrates how feverish the crypto investing world is.
If that was the year they invested, it was probably hugely profitable.
Back then, the crypto market cap was at around $350B. Now it is at around $850B. Up 142%.
If their investments went up by the same factor, that would be an annualized ROI of about 25%. Which would mean they outperformed the S&P 500 and the Nasdaq 100 by a good margin.
It's a bit hard to tell how much money/assets they have as they are private but they employ 700 people on trading crypto. I imagine they have made a few bob.
Pretty amazing how they managed to raise this much money, i thought it would just fizzle out after they have raised such absorbident amounts of money they would run out of incentive. its not like a traditional acquisition where they are contractually obliged to make good on their ICO promises, ICO participants often forget they are in a sense buying part of a company that is up for sale (why?).
For a legitimate Crypto company that hasn't ICO'ed or raised money checkout my company https://bitbank.nz which is forecasting cryptocurrency prices :)
I admire their boldness. They took a chance gambling on crypto lending (with hardware as collateral, what could go wrong?) to gather some new clients. It paid off... Not sure they'll survive though.
How much of that is revenue from actual crypto-related business vs. just appreciation of crypto the company owns? Feels like the impressiveness of this trend really depends on that
Amazing, although I am not sure I understand their business model correctly. So they are a middle man for digital storage rental and those transactions are done in Filecoins that only they can mine and distribute? So that company has >$200M in cash now or who gets that money? And the investors are in because they saw the surge of Bitcoin (and now of Filecoin)?
Also, even per their “audits,” a good deal of their assets are in crypto, which means it’s presently uncollateralised to the tune of tens of billions of dollars.
Their expenses are based on predicted growth in the volume of transactions. They're making money no matter if crypto goes up or down, but they stop making money when people stop trading.
They did an ICO a few years ago, and 1100 people bought in at 10 cents. Now they can sell at $4.50. Not a bad return, and they actually delivered a valuable product, which is shows not every ICO was a scam.
This amazes me. It's really hard to get $4B in revenue for an actual product. But they have sold 4B pretend dollars that are no better than dozens of other cryptocurrencies?
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