Crypto-focused venture capital company Digital Currency Group (DCG) has announced its new revenue for the fourth quarter of 2023.
Bitcoin Boosts Digital Currency Group Revenue Boost
In a letter sent to investors, Digital Currency Group claimed to have had a 59% boost in its revenue in Q4, 2023. Compared to Q4 2022 when the consolidated revenue was only $132 million, the conglomerate registered up to $210 million in the last quarter of last year.
Based on the statistics offered by the Stamford, Connecticut-based private company that owns Grayscale Investments, its earnings before interest, taxes, depreciation, and amortization (EBITDA) was $99 million. During the same period the previous year, DCG’s EBITDA was a negative $7 million.
Digital Currency Group also acknowledged that assets with higher prices including Bitcoin contributed significantly to the jump in its revenue. On its own, Bitcoin has also enjoyed a boost via the launch of the first United States spot Bitcoin ETF whic
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