Bitstamp Dives from €37M Profit to €9M Loss in One Year

Another
popular crypto exchange has joined the ranks of digital asset companies that
were significantly impacted by the industry downturn of 2022. The Bitstamp’s
financial report released this week summarizing the past year revealed a
fivefold decrease in revenues, a twofold decline in turnover, and a net loss of
over €7 million.

Bitstamp
Limited, registered in the UK, published full accounts summarizing the results
for 2022. They display substantial declines compared to the record-breaking
year of 2021, reflecting how the digital asset market’s condition changed over
these two years.

In 2021,
when a single Bitcoin
Bitcoin

While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that

While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term (BTC) was valued at nearly $70,000, Bitstamp’s revenue
reached €109 million, with a profit of €37 million. However, in 2022, when
BTC’s price dropped to as low as $15,000 at its worst, its revenues shrank to
€29 million. Simultaneously, the net profit turned into a loss of €7 million.