3xing your investment in just 5 months is absolutely amazing and that is exactly what just happened to Peter Thiel who is known as an early investor in Facebook (once owned 5% of the company) and one of the famous PayPal founders. He has proven himself as a successful investor, and his newest investment is a crypto broker called BitPanda.

5 months ago, BitPanda raised money at a 1.2 billion dollar valuation making it a unicorn in the startup world. Recently, it raised an additional 263 million dollars at a 4.1 billion dollar valuation which is more than triple what it was at. Valar Ventures which is Peter Thiel’s venture fund has participated in 3 of BitPanda’s funding rounds, and they are obviously very impressed with the company’s progress.

BitPanda will allow its users to buy and sell cryptocurrency and precious metals and is even getting into stocks as well. They claim that they will have a pretty good offering of stocks by the end of this year which is an interesting direction to take this company.

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BitPanda is based in Vienna and will be competing against other European crypto trading platforms which are growing in popularity rapidly. One thing that sets BitPanda apart is the fact that it is already profitable. They already have a business model which is turning a profit.

Crypto is currently worth two trillion dollars with Bitcoin being worth almost a trillion on its own. BitPanda’s huge valuation increase makes sense when you realize how much money is in crypto and how much more money is going into crypto than before.

It will be really interesting to see how BitPanda grows from here.

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