The strategic move aims to enhance Robinhood's global crypto trading capabilities, leveraging Bitstamp's expertise and extensive offerings.
Robinhood, a popular trading platform, has made a significant move to expand its presence in the global cryptocurrency market. The company has agreed to acquire Bitstamp, a U.K.-based crypto exchange, for $200 million in cash. This acquisition is expected to close in the first half of 2025.
Robinhood's acquisition of Bitstamp is a strategic effort to grow its crypto trading capabilities outside the United States. Bitstamp, founded in 2011, is one of Europe's largest crypto exchanges. It offers over 85 cryptocurrencies and holds more than 50 global licenses. By acquiring Bitstamp, Robinhood aims to attract institutional clients and enhance its trading platform with Bitstamp's expertise and offerings.
This acquisition could intensify competition in the crypto exchange market, particularly with other major players like Coinbase. Bitstamp's established presence in Europe and its extensive range of cryptocurrencies will provide Robinhood with a solid foundation to expand its global footprint.
In related news, ETF issuer VanEck has released a report titled "ETH 2030 Price Target and Optimal Portfolio Allocations," which predicts Ethereum's price by 2030 under three different scenarios. The base case scenario predicts a price of $22,000, the bull case predicts $154,000, and the bear case predicts $360.
The report suggests that Ethereum could disrupt financial businesses and Big Tech, leading to a significant increase in its market share. In the base case scenario, Ethereum's market share is expected to rise to 70%, while in the bull case, it could reach 90%. Additionally, Ethereum's token supply is predicted to become deflationary, contributing to the price increase.
