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Back in the day, I used to dabble a little in investing in bitcoin, if you can even call it “investing.” It was mostly just a little bit of speculation if I’m being honest, seeing as how crypto token prices looked like they were going “to the moon!”
As we know, things took a turn for the worse around 2021 when the price of tokens began to fall. Unsurprisingly, I took most of my money out of the market and haven’t really thought about getting back into it.
That’s why I was rather surprised to see mentions of bitcoin starting to creep up once again recently. What, pray tell, could it be this time? Is bitcoin really making a comeback?
I know better than to try my hand again at what’s essentially just gambling, but it was interesting to see that bitcoin has been on a rather strong upswing. Still, it’s almost a paltry improvement when compared to the growth that Web3 firm Block Solutions has experienced since 2019. Today’s story takes a look at just how astronomical it’s been.
Today we look at:
- Block Solutions’ 33x growth in profit
- A US$1.25 million pre-seed round for a text-free social app
- Other newsy highlights such as Nium’s new license in Japan and SCBX acquiring Home Credit Vietnam
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Reach for the moon
Image credit: Timmy Loen
Line go up, good. Line go up, investors happy. Line go up, more money. LINE GO UP. It seems that seeing a graph like this triggers some kind of caveman response in me – someone’s getting rich?! How can I be a part of that? I often have to stifle this temptation (looking at you, Nvidia), so let’s try to stay focused as I go through Block Solutions’ financials.
- Big numbers go brrrr: In the last four financial years, the company’s profit after tax grew by over 33x. Additionally, its revenue jumped by over 22x in the last five financial years.
- Golden goose goes brrrr: Much of its success comes from its main product, Etherscan, an Ethereum blockchain explorer that’s become one of the world’s most well-known free Web3 utilities. Over 14 million users visit the site each month, and it’s the 56th most popular website for investing in the US.
- Good team go brrrr: Matthew Tan, owner of Block Solutions, attributes part of the company’s success to his team, which he says has a shared “culture of humility.”
Read more: A Malaysian Web3 pioneer defies downturn with 33x profit surge since 2019
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