The finance startup Bitpanda GmbH, situated in Vienna, recently predicted that its earnings will hit all-time highs in 2024, drawing interest from all over the world. Bank deals and the growth of digital assets are the main causes of this, and the cryptocurrency broker anticipates a positive future for its fintech endeavor.
Bitpanda GmbH is an Austrian finance startup that helps users organize a backlog of trade services. Established in 2014 by Eric Demuth, Paul Klanschek, and Christian Trummer, the company is a prominent participant in the cryptocurrency trading sector.
Record-High Profits in 2024
This Is Why Bitpanda GmbH has seen a significant increase in revenue after generating €148 million ($160 million) in net sales in 2023. Subsequently, according to a recent report, the company generated over €100 million in revenue in the first quarter of 2024.
This is a huge accomplishment because Bitpanda turned a pre-tax profit of €13.6 million last year after suffering losses of almost €130 million in 2022. A significant increase has mainly assisted this expansion in trading crypto assets, a reduced cost structure, and strategic partnerships with institutions to offer investing services.
Regarding this, Bitpanda believes that in 2024, despite the recent volatility in the cryptocurrency space, it will see a bullish trend for itself. The global trading volume is still erratic despite the highly volatile movements of BTC, ETH, XRP, and other cryptocurrencies.
The CEO and founder of Bitpanda, Eric Demuth, continued, “We can withstand long bear markets and scale significantly with a high-profit margin in bull markets.” In addition, the company anticipates record-breaking profits in 2024.
Bitpanda’s Latest Advancements in Cryptography
In the meantime, Bitpanda has further changed its cryptocurrency offers for users with recent improvements. The company updated its Meme Coin Leaders Index to include FLOKI, a well-known meme coin with a dog theme.
In contrast, Bitpanda and LBBW, Germany’s most significant federal bank, have partnered to provide users with cryptocurrency custody.
