[Featured Stock] Bident Expects Bithumb Stake Value of 1 Trillion Won, Surpasses Market Cap... Following Upbit, Attention on Bithumb Shares

[Asia Economy Reporter Hyungsoo Park] Bident is showing strong performance. As the cryptocurrency trading market becomes more active, the value of cryptocurrency exchanges is rising.

At 9:19 AM on the 2nd, Bident was trading at 15,650 KRW, up 10.21% from the previous day. Its market capitalization has surpassed 700 billion KRW.

The previous day, an economic newspaper reported that the value of Bident's stake in Bithumb is expected to reach 1 trillion KRW. An IB industry official explained, "The value of Bident's stakes in Bithumb Korea (10.23%) and Bithumb Holdings (34.2%) is expected to reach 1 trillion KRW."

According to Bident, Bithumb's net profit last year was 127.4 billion KRW, an increase of over 800% compared to 2019. Dunamu recorded sales of 176.6 billion KRW and a net profit of 46.4 billion KRW last year. Last year, Bident's non-operating income significantly increased due to equity-method income of 40.5 billion KRW generated from its affiliates, Bithumb Korea and Bithumb Holdings.