Eric Demuth, CEO of BitPanda, believes that the European Union will soon introduce regulations regarding stablecoins. In his opinion, too, the problem of bitcoin consuming energy is not black and white and has potential for improvement in the future.

BitPanda is an Austrian cryptocurrency exchange that became worth a billion dollars in 2021 thanks to the latest funding round. For several months, the company has been developing its technology hub in Krakow, where it employs more programmers. BitPanda CEO Eric Demuth told us about his feelings about Polish programmers, about the company’s development in Poland and about the two types of cryptocurrencies. It also points out whether Western countries can follow India’s lead and ban crypto, and whether bitcoin’s energy-eating is actually as big a problem as the saying goes.

  • BitPanda is the first unicorn – a tech startup worth over $ 1 billion – from Austria
  • The company opened its office in Krakow in December and will invest EUR 10 million there
  • “The people we employ can usually choose their place of work” – says Eric Demuth, CEO of BitPandy, about Polish programmers
  • “In the Western world it would be very, very difficult” – this is how Demuth comments on the possibility of banning cryptocurrencies in the countries of the wider West.

The price of bitcoin has increased by over 500% in the last year alone. and made several records. It can even be said that in 2020 and 2021 – as in 2017 – the cryptocurrency frenzy on the markets flared up again.  Along with this, the popularity and scale of cryptocurrency exchanges and platforms for investing in them are growing. One of such companies is BitPanda – an Austrian company that opened an office in Krakow in December and will invest EUR 10 million in the development of the Polish hub.

Only a few months later – in March 2021 – BitPanda announced that it had raised $ 170 million in the latest funding round. at a valuation of $ 1.2 billion. This gave her unicorn status – a company worth over a billion dollars – as Austria’s first startup.

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