Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Alipay: Customers' Delight
The firm's analyst Alan Hellawell said, based on a survey, Alipay ranks as the No. 1 online payment method, accounting for 40.8 percent of all online transactions and 37.4 percent of O2O consumption. And more importantly, customers expressed intentions of expanding usage of Alipay. Contrary to the earlier view that Alipay will lose share to rivals, the analyst is now positive.
Related Link: Market Sentiment Improving On Alibaba Thanks To Robust Results, Investor Day And Company Focus
Evolution Of Alipay
Deutsche Bank noted that Alipay has evolved from a mere payment platform to operating multiple services such as wealth management through Yu'E Bao, credit rating through Sesame Credit, consumer financing through Ant Check Later and insurance.
The firm believes Alipay's share of Ant's P&L will drop to 43 percent in 2017 from 70 percent in 2014. Accordingly, the firm expects ancillary financial services to drive growth over the next several years.
Expectations From Ant Financial
Deutsche Bank expects a 48 percent CAGR for revenues from the calendar year 2017 to 2020. For 2017, the firm estimates 23 percent growth, as improved monetization is offset by continued subsidies. The firm also expects Ant to contribute 2–3 percent to Alibaba over the next few years.
At time of writing, Alibaba shares were down 3.31 percent at $105.17.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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