The crypto boom of 2020 brought the Swiss crypto broker high profits and a sharp increase in its own company valuation.
As part of the latest Bitcoin rally, the Swiss crypto broker Bitcoin Billionaire review has significantly increased its own company valuation and almost achieved the status of a so-called half unicorn. This emerges from a letter published on February 3 to the shareholders .
Bitcoin boom is fueling business
As can be found in it, Bitcoin Suisse was able to almost double the trading volume and number of orders in the last quarter of 2020. The turnover from its own trading business with Bitcoin and other cryptocurrencies even rose by almost 80 percent. Bitcoin Suisse expects net profit for the full year to be in the double-digit million range in Swiss francs.
In total, Bitcoin Suisse manages crypto assets for its customers with a value of 2.5 billion francs (2.3 billion euros). Based on the latest investments by new investors in Bitcoin Suisse, the company’s valuation is now around 400 million US dollars, almost half the amount at which a startup is referred to as a so-called unicorn.
Banking license is getting closer
As Bitcoin Suisse announced in November , the goal of obtaining a banking license for the crypto broker has the highest priority. As stated in the letter to the shareholders, the company will make additional resources available to create the infrastructure and processes required to obtain the license. It is expected that the banking license will be obtained in the coming months.