Voyager is on the track to exceed its performance in the June quarter, Ehrlich said
Publicly-traded cryptocurrency platform Voyager Digital CEO Stephen Ehrlich stated that the company is witnessing tremendous activity in the last few days as investors are increasingly buying the dip in the crypto market.
In an interview with CNBC, Ehrlich said that Voyager has seen a record number of deposits in the past week. Investors are viewing the volatility in the crypto market as an opportunity to invest in both established coins like Bitcoin and buy lesser-known altcoins like Avalanche.
Ehrlich said that Voyager is very bullish on Bitcoin. He asserted that the cryptocurrency is still all set to reach the $100,000 price point by year-end. Thus, investors are keen on buying the currency at the $60,000 price level, ensuring that the volatility of the crypto market contributes to driving adoption, the CEO said.
The increased activity further substantiates the company’s claim that the lower-than-expectations revenue last quarter was just a “speedbump” Ehrlich said:
“We are on pace for a record quarter in December. We will exceed our performance in the June quarter, which was our previous milestone quarter. We are seeing that the activity and the investments we made over the summer in customer acquisitions are really paying off.”
Voyager has often restated that its robust loyalty programs and customer acquisition initiatives have separated its platform from that of competitors like Coinbase.
Further expanding on this customer-centric approach, the CEO stated that the increasing crypto adoption on the platform can be attributed to the opportunity Voyager provides for users to earn deep liquidity and loyalty program rewards. “We are currently one of the top twenty finance applications,” Ehrlich added.
When asked to elaborate on the customer acquisition that Voyager is undertaking, Ehrlich said that the company is using a competitive model that ensures that Voyager is receiving paybacks for its initiatives within four months.
The CEO also emphasised the benefits of Voyager executives’ experience in capital trading in ensuring that its model for customer acquisition stays relevant in a competitive market landscape.