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- Crypto broker Bitpanda anticipates record-high business revenue in 2024, driven by increased bank deals and growth in crypto assets.
- The company has already achieved significant revenue in Q1 2024 following a successful 2023.
- “We can withstand long bear markets and scale significantly with high-profit margin in bull markets,” says Eric Demuth, CEO & Founder of Bitpanda.
Explore how Bitpanda’s strategic initiatives are setting it up for a record-breaking 2024 in the crypto market.
Record-High Profits In 2024: Here’s Why
Following a robust performance in 2023 with net sales reaching €148 million, Bitpanda has started 2024 on a high note, projecting even greater profits. The turnaround from a €130 million loss in 2022 to a pre-tax profit of €13.6 million in the previous year illustrates a significant recovery, fueled by increased trading volumes, optimized costs, and strategic banking partnerships.
Strategic Partnerships and Market Adaptation
Bitpanda’s recent partnerships with major banks, offering crypto investment services, have been pivotal. These collaborations not only enhance customer trust but also expand Bitpanda’s market reach and service offerings, reinforcing its market position amidst the volatile crypto trading environment.
Conclusion
Bitpanda’s forward-looking strategies and robust performance in early 2024 highlight its potential for sustained growth. The company’s adaptability in navigating market challenges and capitalizing on strategic opportunities positions it well for future success in the evolving crypto landscape.
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