Business
Mode Reports Record-Breaking Month of December
Mode Reports Record-Breaking Month of December.
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[{"type":"text","content":"\n \n \n \n RNS Number : 5237K\n Mode Global Holdings PLC\n 05 January 2021\n \n \n \n \n Mode Reports Record-Breaking Month of December\n \n \n \n \n \n Highlights\n \n \n \n \n \n · \n Record-breaking trading volumes and new user numbers in December 2020\n \n \n · \n Mode's October 2020 Bitcoin investment up over 100% in value\n \n \n · \n In first few days of January, Mode sees 40% increase in user growth numbers compared to December\n \n \n \n \n \n \n London, 5th January\n \n - Mode Global Holdings, the LSE-listed fintech group, reports a new record-breaking month with trading volumes and new user numbers surging over 1,500% and 500% respectively since August, as Bitcoin extends its historical, record-breaking rally. \n \n \n Mode's strong performance mirrors the historical, record-breaking rally in Bitcoin, which hit $20,000 on December 16, surpassing its previous 2017 peak. In under three weeks, Bitcoin has gained another 70% to reach $34,000, a new record. \n \n \n \n Janis Legler, Chief Product Officer, Mode:\n \n \"The last few months for Mode have been exceptional as we have reached record growth rates. We've been particularly popular amongst first-time Bitcoin investors which caused our Bitcoin app to make it to the top 2 in the UK's App Store finance category in December, surpassing most high-street banking and fintech apps. Even during the holidays, over 90% of our eligible customers were able to open and verify their accounts in less than five minutes, instantly top up their wallet via Open Banking and buy Bitcoin right away. Unlike traditional stock markets, Bitcoin trades 24/7 which provides a truly innovative and revolutionary experience for new customers - they love it.\"\n \n \n In October last year, Mode decided to utilise up to 10% of its IPO proceeds from shareholders to invest in Bitcoin, diversifying its treasury portfolio, and as of today, Mode is over 100% up on its original position. Mode was the first publicly listed company in the UK to officially announce a significant purchase of Bitcoin as part of its treasury investment strategy.\n \n \n \n Jonathan Rowland, Executive Chairman, Mode:\n \n \"If we look at Google Trends search volumes, the data suggests that retail investor appetite for Bitcoin has reached nowhere near the levels we saw in 2017. Until now, the re...