Cryptocurrency broker Voyager Digital’s stock price is up a mind-boggling 15,300% (154-fold) over the past year
It would be hard to argue that the cryptocurrency brokerage business is not one of the best businesses globally nowadays. For example Coinbase has reached an implied US$68B valuation ahead of its highly anticipated Nasdaq listing, from near zero only a few years ago. Another example is Voyager Digital Ltd. (CSE: VYGR | OTCQB: VYGVF), a company that is one of the up and coming crypto-asset brokers. In a little over a year (roughly in 2020) they increased their assets under management (AUM) from US$5M to US$500M, a 100x increase, and AUM have now risen exponentially to reach US$1.7B, as of the end of February 2021.
Just take a look at their stock price performance the past year, up a mind-boggling 15,300%. Yes you read that correctly, 15,300%, or effectively a 154-fold increase. Over the past year Voyager Digital’s stock price has gone from C$0.20 to C$30.90. Wow! This is what investor’s dreams about!
Had you been lucky or wise enough to invest C$10,000 into Voyager Digital stock a year ago, that investment would today be worth C$1.54M. It shows it is well worth following InvestorIntel regularly and closely as we have a history of discovering up and rising stars, just like Voyager Digital.
Voyager Digital’s stock price is up a mind-boggling 15,300% (154-fold) over the past year
Source: Yahoo Finance
Voyager Digital is a crypto-asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. Voyager offers customers the best execution and safe custody on a wide choice of popular crypto-assets.
Co-founder and CEO of Voyager, Stephen Ehrlich, stated back in late 2020:
“Voyager’s offering of over 50 digital assets, including 22 interest-bearing assets, is winning over investors. As we increase our marketing reach, investors are gravitating to Voyager’s commission-free, easy to use platform, evidenced by our daily deposits increasing 25x since December.”
The Voyager Digital crypto broker app is experiencing exponential growth
To get a feel for the exponential growth the table issued by Voyager Digital in their March 1, 2021 update is shown below. If we look at new users to the app they increased by a staggering 250,000 in January 2021, and again by 190,000 in the short month of February 2021. Voyager Digitals’ preliminary revenue has reflected the rapid jump in new users by climbing from US$1.7M in December 2020 to US$20M in February 2021. AUM also grew exponentially to US$1.7B in February 2021. Total verified users on the platform as of the end of February 2021 stands at approximately 605,000.
Voyager Digital crypto broker platform stats shows the exponential 2021 growth
“We are excited to see a rapidly growing group of investors utilizing our platform and look forward to delivering value to all our stakeholders. We intend to deploy capital to accelerate our growth through strategic marketing initiatives, further development of our technology infrastructure, and building staff across all departments to position Voyager as the go to digital financial services firm of the future.”
Voyager Digital is currently in hyper-growth mode with a blockbuster start to 2021. The platform/app performance numbers and stock price performance are just mind-boggling and have only been getting better in recent months. Of course, Bitcoin (BTC) has been in the limelight and has been rapidly rising, boosted by further acceptance from some big names including Elon Musk at Tesla announcing in February 2021 a US$1.5B investment into Bitcoin.
Risks exist with any new business and investors need to be mindful that the current surge in popularity for cryptocurrencies can reverse if sentiment were to change.
Looking ahead there is still huge upside potential if the company can continue to execute and grow rapidly. Voyager Digital trades on a market cap of C$4B, which is well below the market leader Coinbase (private) which is said to have an implied valuation of US$68B, which works out to be 17x higher. Of course, Coinbase is much bigger for now with 43 million users trading digital assets in more than 100 countries.
Stay tuned to InvestorIntel for more updates on this hyper-growth and super exciting company.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>