Bitcoin Group SE: GBC AG publishes initial research report with buy recommendation and price target of EUR 120.00
Herford, November 03, 2021 – Bitcoin Group SE (ISIN DE000A1TNV91) receives an analyst vote. Today, the research house GBC AG published its initial study with a price target of EUR 120.00 and a buy recommendation for the share. From now on, GBC analysts Matthias Greiffenberger and Felix Haugg will cover the further development of Bitcoin Group SE with continuous assessments.
In their study, the two analysts highlight in particular the dynamic development of the cryptocurrency trading venue Bitcoin.de: "The trading venue is highly profitable and recording dynamic growth." They further comment: "With a market capitalization of EUR 250.00 million and an enterprise value of EUR 49.80 million (market capitalization minus crypto & cash holdings), we currently see the company as strongly undervalued."
In the analysts' view, the local German regulation is particularly advantageous. Due to the German company headquarters and the BaFin regulation with a bank license, more regulatory security can be guaranteed. Thus, according to the research team, alternative trading venues with lower fees or higher liquidity should not automatically pose a threat to Bitcoin.de.
The comprehensive research increases the transparency regarding the business model of Bitcoin Group SE as well as the attractiveness of the share.