Going forward, we believe young people will be disintermediating more and more banks with Visa and Mastercard. We like payment technologies in general as a disruption play that solves an actual pain for the masses. BitPay Raises Record 30 Million in Series A Funding, Biggest in Bitcoin Industry Yet The Atlanta Bitcoin payments pioneer closes a record-breaking funding round from billionaire Richard Branson. We think that the pay-with-and-spend-cryptocurrency is a growing, sustainable trend, and that BitPay is uniquely positioned to benefit from it. Doodles on Tuesday disclosed its 54M incoming funds at the valuation of 704M. The positive business momentum is not reflected in the company valuation just yet, as the general market is still in turmoil.Īn idea has started to emerge: to buy BitPay shares at a discount to the last round before this substantial number of new contracts will be priced in the company valuation. BitPay wallet users can now shop from brands like Gucci and TAG Heuer. The brands mentioned above have a higher price per item than the usual ecommerce transaction, meaning that BitPay, which earns a 1% fee on the sale, will book higher revenues.Īdditionally, Uber Eats and other brands from the gig economy have signed up to allow their customers to pay with crypto, enabling the company to spread its reach and consolidate its market share. Yearly Revenue: NA Employee Size: 51-200 Business Valuation: NA. We were also struck by the positive streak of sign-ups by big brands for cryptocurrency acceptance services. BitPay is a global bitcoin payment service provider that builds powerful tools for. ![]() We like that the company did not raise capital in 20, escaping the valuation folly of the Coronavirus years that negatively affected most crypto and financial stocks.
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