Corporate News

Bitcoin Group SE: Own stock of cryptocurrencies breaks the EUR 60 million barrier and reaches new record high

Herford, December 01, 2020 – Bitcoin Group SE (ISIN DE000A1TNV91) is showing a strong dynamic at all levels. The growing popularity of Bitcoin and other cryptocurrencies as a means of payment as well as the massively growing interest of professional investors in crypto assets is positive in two ways.

The dynamic development of the Bitcoin, which has reached a new all-time high, accelerates the customer growth on the cryptocurrency trading platform operated by futurum bank AG. At the beginning of November, the annual target for the customer base was reached ahead of schedule with 900,000 customers. In addition, the near quadrupling of the Bitcoin price since March of this year is also reflected in the balance sheet. The own stock of cryptocurrencies has exceeded the EUR 60 million mark. Around EUR 53 million of this is accounted for by Bitcoin, the rest by other popular cryptocurrencies. By way of comparison, Bitcoin Group SE reported EUR 27.5 million in the balance sheet as of December 31, 2019.

"Although our core business as a crypto bank is largely independent of the performance of cryptocurrencies, our shareholders participate in the success of Bitcoin and Co. through our own stock of crypto assets. The value of our assets has more than doubled since the beginning of the year. This is an extremely pleasant side effect, which we believe is sustainable. Especially among institutional investors, cryptocurrencies are becoming an integral part of asset allocation. The success story of cryptocurrencies is only just beginning, and we are right in the middle of it," says Marco Bodewein, Managing Director of Bitcoin Group SE.



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