The valuations of publicly listed digital asset companies have grown significantly in recent years, driven by the rising number of users and revenues. This trend is projected to continue, as digital assets usage and implementation – including cryptocurrency and decentralized applications – is expected to increase.
Revenue and Market Cap of Publicly-Traded Digital Transformation Companies (2012 - 2020)
Source: VanEck, MVIS as of 26/04/2021. Revenues and market cap reflect pure-play digital asset companies as defined by MVIS and included in the composition of the MVIS Global Digital Assets Equity Index on 26/04/2021. The Index was not live prior to 08/03/2021.
*For 2021, market cap valuations represented as of 21/04/2021. For 2021 revenues, VanEck applied a 19% growth rate to 2020 revenues to calculate a forward projection. 19% represents half of the annualized growth rate of revenues of pure-play companies from 2012-2020. Pure-play digital asset company: as determined by the index provider, companies which (i) generate at least 50% of its revenues from digital assets projects; (ii) generate at least 50% of its revenues from projects that, when developed, have the potential to generate at least 50% of their revenues from the digital assets industry; and/or (iii) have at least 50% of its assets invested in direct digital asset holdings or digital asset projects. See important disclosures and index descriptions at end.