Shares of the company Bitcoin Group SE have skyrocketed along with the rise of bitcoin’s price. Its shares have almost doubled since the previous year. Their value moved from EUR 775 ($909.35) to EUR 1,770 ($2076.83) this year, according to a German financial press release. The company is now also trading on Avanza, which is Sweden’s largest online stockbroker. The company is expected to continue growing as it adds more cryptocurrencies to its accepted holdings.
Also read: Fundstrat Global Advisors Create Bitcoin Indexes
What is Bitcoin Group SE?
Bitcoin Group SE is an investment company that focuses on the fintech ecosystem, and helps clients get involved with bitcoin and cryptocurrencies specifically. Their website said:
“Bitcoin Group SE is a holding company focused on innovative and disruptive business models and technologies from the fields of cryptocurrency and blockchain. Bitcoin Group SE holds 100% of the shares in Bitcoin Deutschland AG, which operates Germany’s only authorized trading place for the digital currency Bitcoin under Bitcoin.de.”
The website elaborated the company sees itself as a capital risk provider that helps new startups reach their growth potential. The site said their aim is to build a portfolio for clients in a diversified manner and pay attention to the risk of risk spreading. This has helped the company’s investors maximize returns, which has likewise driven up the firm’s share price.
Exceeding Expectations: Bitcoin Group SE’s growth Corresponds with Bitcoin’s Growth
Overall, the firm has exceeded expectations. It doubled its share price, which has corresponded with the dynamic growth of bitcoin’s price. Its share price has also corresponded with increased trading volume on bitcoin.de, especially since bitcoin.de is a wholly owned subsidiary of the company. Its earnings before taxes saw corresponding gains.
“Earnings before taxes rose by 240% to EUR 1,220 ($1431.49) thousand in the first half of 2017, compared to EUR 359 ($421.23) thousand in the same period of the previous year.”
The dramatic rise in bitcoin’s price is the primary factor for the company’s success. The financial press release said, “The increase in essential key figures is attributable to the dynamic rise in the Bitcoin price and the associated value of the Bitcoin inventories held by the Group.”
What do you think about these Bitcoin funds and investor trading platforms? Do you see their dramatic share increases based on the bitcoin price to be a good thing? Tell us in the comments below.
Images courtesy of Shutterstock and Bitcoin Group SE
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Source: News Bitcoin