Robinhood's Crypto Expansion Projected to Boost Market Cap by 35%

IconCryptoNewsTerminal Staff11 Sep, 2024

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Robinhood's Crypto Expansion Projected to Boost Market Cap by 35%

Robinhood's expansion into the cryptocurrency market is expected to significantly increase its market capitalization, according to Bernstein. The investment research firm predicts that Robinhood's market cap could grow by approximately 35% this year, reaching $19-$23 billion by 2025. This growth is attributed to the younger generations' increasing interest in investing in cryptocurrencies. Robinhood's recent acquisition of the cryptocurrency exchange Bitstamp for $200 million in cash is seen as a strategic move to capitalize on this trend.