What would a cryptocurrency set, or DCG IPO, look like? Analysts at digital analytics company Messari believe they have answers.
In a recently published report, researcher Jacques Purdy published the theoretical IPO of DCG. Using quarterly update data, plus other publicly available information and average price-to-sales ratios of similar fintech companies, Bardie concluded that DCG would be valued at more than $ 4 billion if it were published.
This high score is based on a thorough examination of the DCG’s core business. While the unofficial crypto notes may not be as noticeable, DCG has some of the biggest brands in the crypto space, including Genesis, Grayscale, and Coindesk. Together, these and other DCG properties generate $ 243 million in annual revenue.
In addition to its impressive profits, DCG’s investment arm has a large portfolio of Bitcoin (BTC), Ether (ETH) and dozens of other cryptocurrencies. As of June 30, 2018, the company’s digital asset portfolio is $ 260 million.
To be clear, Purdy did not predict what the DCG proposal would look like or how many investors would participate. Listing is seldom a scientific process due to the massive financial incentives forcing sellers and their agents to overburden.
Speculation about who will land in the crypto industry’s first IPO in several years has not subsided, and companies like Coinbase and BlockFi enter discussions regularly. Although there are many listed companies involved in blockchain technology, names like Coinbase or DCG may be the first crypto company to be listed.
“Once this happens, this may be the right moment for the Netscape cryptocurrency as a high-profile IPO kicks off a bout of follow-up proposals, fueling the frenzy of investors seeking to reach an emerging but fast-growing industry,” Purdy said.
DCG did not immediately respond to a request for comment. While the company has not commented on the public offering, founder and CEO Barry Silbert said he wants to “make DCG the Berkshire Hathaway cryptocurrency.”
Berkshire is a wealthy investment conglomerate owned by value investor Warren Buffett.