Bernstein: Robinhood's revenue this year is expected to reach $900 million, driven by crypto business

BlockBeats reported that on September 12, Robinhood is strengthening its crypto team, launching crypto trading services in the European Union and acquiring cryptocurrency exchange Bitstamp for $200 million. Bernstein analysts wrote in a report on Wednesday that these moves will drive Robinhood's operating income to about $900 million in 2024 and a market value of $19 billion to $23 billion by 2025.

Analysts estimate that Robinhood's revenue is expected to reach $3.4 billion by 2025. The company has seen favorable factors including demographic trends. About 60% of Robinhood's assets come from customers under the age of 43. In 2010, millennials created about 1% of U.S. household wealth.

As Robinhood increases its cryptocurrency, stock, derivatives and savings products for younger groups, this figure has risen to about 10%. Cryptocurrency’s share of Robinhood’s trading revenue jumped to $81 million in the second quarter, up 161% from the same period last year.