Bucharest, April 17, 2024– RBJ – Bitcoin Romania, the company that owns the largest local crypto currency trading platform, has seen a 600% increase in the number of transactions in the first quarter of this year compared to the same period last year as a result of the approval of ETFs in the United States. Another major event for the company and the industry in the coming period is Bitcoin Halving, an event that takes place every four years and involves halving the number of coins put into circulation. Bitcoin Halving takes place Friday, April 19.
On January 10, 2024, the Securities and Exchange Commission (SEC) approved 11 bitcoin ETFs. ETFs (or exchange-traded funds) are a type of security that track the underlying performance of a collection of assets or commodities. A Bitcoin spot ETF is an exchange-traded fund that tracks the spot or current price of Bitcoin.
“Much of this volume was traded due to the approval of ETFs in the US market. Crypto market participants have been waiting for this event for a long time, and the fact that ETFs were approved in early 2024 gives us confidence that the crypto industry is gaining more traction in the long run,” said George Rotariu, Co-Founder and CEO of Bitcoin Romania.
Constantin Rotariu, CTO Bitcoin Romania: If you don’t know the right strategy, you have no chance of long-term success
The Bitcoin platform has 80,000 active users, and the company’s management expects this number to grow as a result of two major events in the coming period: the Bitcoin Halving (Friday, April 19), an event that takes place every four years and comes with important changes in coin prices and transactions, and the launch of the Bitcoin Breakfast, a series of weekly financial education sessions specializing in crypto currencies.
The halving represents a 50% drop in the supply of BTC coins put into circulation as the market constantly creates new opportunities and new demand. That’s why, historically, in the halving period and the one after, the price of Bitcoin rises.
“Halving is an event that increases market attention to Blockchain technology. Historically, in the period after the halving, the price of bitcoin rises dramatically. Of course, no one knows exactly what will happen on the occasion of the fourth halving, that’s why we launch the invitation to education towards the Romanian public. Since January 2023 and so far, the number of users on the network has already grown significantly, we now have over 80,000 active users on the platform. Our goal is to educate as many Romanians as possible and show them how to enter the crypto sphere safely and efficiently,” the manager added.
The company has launched the Bitcoin Breakfast, a series of financial education sessions held every Friday at Bitcoin’s headquarters in University Square (1 Nicolae Mavrogheni Street). The one-on-one meetings are open to both individuals and businesses, regardless of their level of experience or risk appetite, who want to discover the opportunities that crypto currencies offer.
“Financial education is essential in the crypto area because it’s very easy to lose money, sometimes so easy that most of the new market participants lose money. If you don’t know what the right strategy is, you have no chance of long-term success. We are of the opinion that instead of entering the crypto market yourself and paying out of your own pocket for your own mistakes until you learn your lessons, it is better to educate yourself at no cost to the point where you have a strategy that will help you position yourself correctly. In this context, Bitcoin Breakfast is a unique opportunity for free education”, explained Constantin Rotariu, Co-Founder and Chief Strategy Officer of Bitcoin Romania.
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Bitcoin Romania is the first operator and leader of the crypto-ATM market in Eastern Europe, as well as owning the largest crypto currency trading platform on the local market. The company created by brothers Constantin and George Rotariu is the one that introduced crypto ATMs in Romania. Bitcoin Romania has the most diversified range of products and services in the field, targeting both individual and corporate customers. Bitcoin Romania’s offering includes a platform where users can set up an account and trade on their own or with the help of a specialist advisor, a national network of crypto ATMs that can be expanded through franchising, an investment fund based exclusively on the purchase of Bitcoin for the long term and a product similar to a term deposit, which generates percentage returns depending on the period in which customers invest their capital.
