Voyager Digital Ltd is still growing at an incredible rate, adding more US customers than most other crypto companies.
In my last update, I was very bullish about the long-term prospects of both Voyager Digital Ltd stock (VYGVF) and the Voyager token (VGX).
Since November, the stock price has shot upwards and then slipped back. Also, the VGX token has followed the downward trend of the broader crypto market.
Am I worried? Not at all! In fact, I've bought more Voyager Digital Ltd stock.
What's Happened to the Stock Price?
The company fundamentals remain sound. In fact, CEO Steve Ehrlich recently revealed that Voyager is now the third biggest crypto company in the United States (based on users).
While some other crypto companies have been raising money at massive valuations, Voyager has been largely overlooked.
Over the past 12 months, the stock price of the company has been up and down. At the time of writing, the price is almost the same as it was a year ago.
Why has the stock price not risen? I have no idea and nor does Steve Ehrlich.
In this recent interview, he explains that the company has been buying back stock and that they're ready to launch a number of new features early in 2022.
There's no fundamental reason why the price should be so low. To me, that means that there could... should... be plenty of upside to come.
Steve talks about a commercial that Oracle ran during the Super Bowl in 1988. They claimed that the internet would revolutionise the world and were laughed at... but they were right.
He said that, "if you saw that commercial today... and it's not a revolution today, it's an evolution, it's a technology evolution... and you replace that with Algorand or Avalanche or Solana you get the same thing. Like, this is the technology that's going to be the underpinnings of the internet and commerce and transactions in the next 25 years."
"I am so bullish on those that I think that we're going to start seeing the second half of this year all cryptos really take off because I think people will understand it more and understand how it fits into what's going to happen over the next 20 years."
Steve added, "The only risk is the risk of not participating, it's the risk of not being involved. Because we know this is changing the next 25 years so the risk is not being involved in something... whether it's Voyager stock or if it's Bitcoin or if it's VGX or it's Solana, it doesn't matter. Be involved because it could change your life... it will change your life."
It's a fascinating interview and gives me plenty of faith that the company is in good hands.
What's Happened to the Token Price?
It's a similar story to the stock price. Plenty of ups and downs, but no clear reason why.
I have no need to buy more VGX.
I originally bought 35,000 tokens in 2017 at the ICO stage for just $0.05 so I'm sitting pretty. I locked in a sizeable profit when the token price soared to $10.00+ so I'm happy to sit tight.
Voyager continues to seek out sponsorship opportunities.
According to a recent survey, sports fans are about twice as likely as non-sports fans to say they are familiar with cryptocurrencies.
Perhaps this is down to sponsorship deals, such as crypto.com paying $700 million for the naming rights to what was known as the Staples Center in Los Angeles.
Not to be left behind, Voyager has struck deals with the Dallas Mavericks basketball team, Super Bowl winner Rob Gronkowski and NASCAR driver Landon Cassill.
In addition, Voyager sponsors the NWSL (National Women’s Soccer League) in the US. Twice as many men as women invest in cryptocurrency, so there's a big opportunity here.
I believe that Voyager is going to be hugely successful. They're attempting to make crypto accessible to more people and even disrupt the way that equities are bought and sold.
There are plenty of crypto exchanges where you can buy and sell tokens, but only if you already hold some crypto and you know what you're doing.
Voyager is going further than that.
They have already been granted regulatory approval in a number of jurisdictions to provide financial services and they're working on gaining access to more countries, such as Canada.
It may take a while to get there, but I'm happy to 'hodl' and enjoy the ride.