The revenue numbers are likely legit if they are reporting gross bitcoin sales as revenue (similar to cash app). 200mm annualized is a crafty way of saying 50mm/quarter and Cash app is 50x that amount which is what id assume to be the multiple ahead of Swan.
Assume an average fee of 2%, the actual quarterly net revenue is probably $1mm on bitcoin sales.
diddy
npub1d6…7yxmw
2024-01-05 04:10:14
in reply to nevent1q…lunt
Author Public Key
npub1d6ud8r38dqp0he7a6athwvhdwjgxvp0en2swxkcsdqtgwlpqh7zqp7yxmwPublished at
2024-01-05 04:10:14Event JSON
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"pubkey": "6eb8d38e276802fbe7ddd7577732ed74906605f99aa0e35b106816877c20bf84",
"created_at": 1704427814,
"kind": 1,
"tags": [
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],
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"content": "The revenue numbers are likely legit if they are reporting gross bitcoin sales as revenue (similar to cash app). 200mm annualized is a crafty way of saying 50mm/quarter and Cash app is 50x that amount which is what id assume to be the multiple ahead of Swan. \n\nAssume an average fee of 2%, the actual quarterly net revenue is probably $1mm on bitcoin sales.",
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}