Vienna-based cryptocurrency trading platform Bitpanda GmbH, backed by billionaire Peter Thiel, is reportedly exploring options for its future. The company is considering a potential initial public offering (IPO) in Frankfurt or even a sale, according to sources familiar with the matter.
Bitpanda has enlisted financial giants Citigroup Inc. and JPMorgan Chase & Co. to assist in these deliberations. With the cryptocurrency market gaining momentum in 2024, any potential deal could value Bitpanda at over $4 billion USD ($6.6 billion NZD), insiders reveal.
Potential Moves in 2025
If Bitpanda moves forward with a deal, it’s expected to happen next year. However, sources indicate that no final decisions have been made, and the company might choose to stay the course. Neither Citigroup nor JPMorgan representatives commented on the matter, and Bitpanda itself has yet to respond.
Cryptocurrency Resurgence in 2024
The crypto market’s renewed rally is a driving force behind Bitpanda’s exploration of options. U.S. regulators’ approval of spot Bitcoin exchange-traded funds has significantly boosted the appeal of digital asset companies. Additionally, speculation about a pro-crypto stance from a potential Donald Trump presidency has fueled further market gains.
About Bitpanda
Founded in 2014, Bitpanda offers trading services for cryptocurrencies, equity derivatives, and commodities. In August 2021, the Austrian startup reached a valuation of $4.1 billion USD after raising $263 million from notable investors, including Peter Thiel’s Valar Ventures, billionaire Alan Howard, and REDO Ventures.
Bitpanda’s forward-looking strategies highlight its ambitions to remain competitive and influential in the dynamic world of cryptocurrency. Whether through a public offering or a strategic acquisition, its next move could set a new benchmark for digital asset platforms worldwide.
