How would the Digital Currency Group (DCG) company be valued if it went public? Analysts from Messari now provide an answer to this question.
On 12 November, research analyst Jack Purdy published a report in which he examines a theoretical IPO of the Digital Currency Group. According to Purdy’s calculations, the company would have a valuation of four billion US dollars if it went public. This result is based on publicly available data from DCG.
DCG owns, among other things, a wide range of different crypto brands, such as Genesis, Grayscale and Coindesk, which generate an annual turnover of approximately $243 million. The company also owns Bitcoin (BTC), Ethereum (ETH) and a dozen other crypto currencies.
For years there has been speculation as to which company in the crypto industry would be the first to go public. Although some companies involved in block chain technologies have been listed on the stock exchange in the past, these were not pure crypto companies such as DCG or Coinbase. Purdy commented on this consideration:
Once this happens, it could be the Netscape moment for crypto, where a high-profile IPO triggers a flood of subsequent bids, fuelling investors‘ enthusiasm to get involved in the emerging but fast-growing industry.
However, the company did not respond to the request for comments. However, the company’s founder and CEO, Barry Silbert, said that he wanted to transform DCG into the Berkshire Hathaway of crypto technology.
Purdy is less concerned with an actual IPO of DCG. But the evidence is currently lacking. Rather, he wants to give an impression of the magnitude and potential scope.