ChainCatcher reported that according to Bloomberg, cryptocurrency broker Bitpanda said in a statement that after net sales reached 148 million euros (about 160 million US dollars) in 2023, the company's revenue is soaring. Bitpanda's net income in the first three months of 2024 has exceeded 100 million euros, so profits in 2024 are expected to rebound to record levels.
The privately held Vienna-based company recorded a pre-tax profit of 13.6 million euros last year, compared with losses of more than 130 million euros in 2022. Currently, the company is benefiting from a resurgence in crypto-asset trading, optimization of its cost structure, and investment services provided in partnership with banks. "We were able to persevere through a lengthy bear market and expand significantly at high margins during a bull market," said Bitpanda founder and CEO Eric Demuth.
