This company is a leading bank for innovative businesses in fintech and cryptocurrency. It’s based in San Diego.
Anyone interested in this company? I feel it’s a bit expensive now with a PE of about 70, compared to other banks that have a PE of around 15-20.
It’s also 5 x’d in the last 3 months. I’m looking at it as a long term investment on the premise that it will grow it’s banking business as the number of businesses in the crypto sphere grows.
It seems to have been the leader in providing banking to crypto-related businesses, i.e. Exchanges.
They also give loans against crypto assets. I’m not sure how valuable they will be, long term.
Looking to buy in around £90/£95
Invested at $93 - another yo-yo position.
It was nice to see $170+, if only for a moment
10 years to go, so we’ll see.