Ready To Go Public, Bitpanda IPO Predicted To Reach Valuation Worth More Than IDR 63 Trillion

JAKARTA - Bitpanda, a Vienna-based crypto exchange, Austria, is considering going public through an initial public offering (IPO) in Frankfurt. This move is expected to increase the company's valuation to more than 4 billion US Dollars (Rp 63 trillion). With support from financial giants such as Citigroup and JPMorgan Chase, Bitpanda has the potential to enter an exciting new phase on its way, especially after the recent success of Bitcoin ETFs.

Bitpanda, which was founded in 2014, initially focused on crypto trading. However, over time, the platform has expanded its services to include equitable and commodity derivatives. In a recent report, the company recorded revenues of more than 100 million euros (approximately IDR 1.7 trillion) in early 2024, showing significant recovery after experiencing a loss of 130 million Euros (approximately IDR 2.2 trillion) in 2022. Bitpanda CEO and founder Eric Demuth confirmed that they were able to survive in the bear market and have the potential to grow rapidly with high profit margins during the bullish market.

Demuth also noted, We are able to survive in a long bearish market and can develop significantly with a high profit margin as the market is bullish. This statement reflects Bitpanda management's confidence in the company's ability to adapt to the fast market dynamics.

Bitpanda's interest in going public was also triggered by regulatory approval for Bitcoin's ETF, which has increased investor confidence in crypto assets. Bitcoin recently managed to surpass the price of 70,000 US Dollars (Rp1.1 billion), demonstrating a tremendous market power. This success not only sparked interest in Bitcoin, but also strengthened investor confidence in companies operating in crypto spaces.

Bitpanda is not the only exchange that considers an IPO. Kraken, a crypto exchange from the United States, is also considering similar measures, while the Thai crypto exchange, Bitkub, is targeting an IPO by 2025. This shows that the crypto industry is growing and attracting the attention of larger institutional investors.

Earlier this year, Bitpanda entered into a partnership with Deutsche Bank to provide real-time payment solutions for customers in Germany. This collaboration not only provides operational support for Bitpanda, but also opens access to IBAN Germany through API-based solutions, which are expected to improve user experience by accelerating and increasing transaction efficiency.