Robinhood believes a crypto bullrun is just starting and aims to expand in Europe

One of the biggest winners on the American stock exchanges this year is Robinhood, the trading app which became very popular among youngsters during the Covid-19 lockdowns of 2020. After a few more difficult years (2021 and 2022), Robinhood made a roaring comeback last year, thanks in a big way to the renewed popularity of crypto.

Now, in order to expand into Europe and Asia, Robinhood bought the Bitstamp crypto platform this week for around $200 million. Since the beginning of the year, Robinhood stock is up about 70%.

GameStop

Robinhood owes its success mainly to the user-friendliness of their app. You can trade with an account of just a few dollars, no entry fees and minimal transaction costs. The app sprinkles confetti with every trade and is shown in many American films and series due to its popularity.

The company hit a rough patch when it banned traders from selling their GameStop shares for several days during the 2021 GameStop short squeeze (to allow Wall Street investment funds to cover their short positions, although this was never admitted). As a result, Robinhood was also much less popular in 2022.

Nvidia

In particular, the rising price of crypto and tech stocks such as Nvidia in 2023 fueled a comeback for Robinhood, which is now being completed with a possible expansion in Europe and Asia.

Although Robinhood already has its own crypto platform in the United States, lawmakers still have some questions about it, and so the company decided to acquire a well-known platform in Europe and Asia in order to avoid any problems with legislation here.

Bitcoin, Ethereum and Dogecoin are the most popular crypto coins in their app.