So I just thought I’d have a little look around at other relatively newbies that I feel MODE will complete with in the future. One that gets my attention the most is MONZO. I know they don’t offer the same things that MODE do, but I feel MODE will very soon compete with them. through QR codes, instead of cards.
The main thing that got my attention, was how MONZO very quickly became a pound ‘Unicorn’. Just 2 years after their first fundraise. Their first fundraiser in 2016, they were valued at 50m.
Now compare this to MODE. IPO they were worth 40.3m, then next fundraise they were valued 10 percent more. With little change other than the Android announcement.
Once the ‘Super-App’ is released and further progress through open banking and the potential to start offering credit. MODE will very quickly start heading towards that 1 billion valuation.
The current confirmed holding is 85 Bitcoins. But they added to it on the last placing, to keep to 10% of cash in treasury as Bitcoin. My calculations was a further £500k - £600k was used to buy more. Around that time, the Bitcoin price would have allowed a further 15 to be bought. So I’d say they hold atleast 100 now.
An update has to be very close now. We might even see a couple or one combined monster.
A number of things I’m interested to hear about:
usage/ downloads update Current Bitcoin holding since last placing? + Value? (400% increase). Merchants taking part in launch?
Found the last one in a previous RNS (15 Feb) “We will be announcing the names of our launch partners in due course”
I’m very much looking forward to the rise here. As the chairman said, they’re looking at competing with Visa and MasterCard. Who both have an MCap of over £350 Billion. For MODE to be valued at less than £50 million is crazy IMO. Even MONZO is valued at £1billion+. If everything goes to plan, I can see MODEs MCap heading towards £250 million by year end, and that’s just for starters.
Investors don’t chuck £100k, £250k & £471k (Some buys this month) into something they don’t believe in. The rich get richer, so I’m happy to follow them.
If we could all time it right we wouldn’t be on here, but instead chilling on yachts lol.
I was looking at MODE for a while and watched it touch 80 and was still very tempted to buy. I like you now have an average of 55p. Which I am more than happy with. Obviously 51p would be better, but if those that took part in the placing were happy to pay 55p, then it sits pretty well with me.
Can never time the market perfectly, Ive been waiting anxiously to top up, and committed yesterday. Clearly should have waited a day, but I’m a lot happier than if I had done it in the high 50’s or even 60-70+ over the last month.
I’m happy to sit on my hands now and wait for the rise. With Q2 quickly approaching, the rise will soon come. I remember looking into ARB before Xmas and didn’t commit, look what happened there. But I’ve done my research here and more than content my investment will rise :)
That’s not been fully confirmed. But the chairman’s recent Podcast explained revenue will come from a number of routes. Firstly, every transaction Buy or Sell of Bitcoin MODE charge a 0.99% fee. Secondly, they receive income through after a certain amount of transactions are made. It’s not confirmed but I think they will also receive a percentage from the merchants, due to MODE bringing the customer to them.
These are just a few points that I’ve picked up on anyway.
Another point I forgot to mention. Is that MODE hold a minimum of 85 BTC in their treasury. This was purchased in October. So I’m sure you can work out the increase and worth now. The reason I say minimum is because more was added from the funds received in the recent placing. But the amount has not been confirmed, my guess was another 15 to round their holding to 100 BTC :)
Vas, I’ve never been one for charts. But if it works for you then GL. MODE currently has an App that allows people to buy and sell Bitcoin. Not only that , if you put your BTC holding in their Bitcoin Jar (Within the App). They will pay 5% interest.
But what they are due to release in Q2 is a “super App”. This will link up with merchants and allow you to purchase goods through the App with either Bitcoin or a currency of your choice. Not only allowing you to buy with Bitcoin (Like Tesla), but instantly (well 3 clicks or scan of a QR code) through open banking which is embedded in the “Super App”. This avoids Visa/MasterCard Fees for the merchant, who in turn, will offer a discount for using this service. Win Win.
When you go onto the App Store. Search for the Mode App. Then instead of selecting OPEN, select the writing, which will open the info for the App and then at the top you’ll see it’s rating and also where it’s placed in the Finance chart.
For your info, it is now at No. 133.
I think one of the reasons for the increase may be the referral campaign reward they’re offering. This is due to end on Sunday.