Now that 2023 is well underway, it’s time for a New Year update.
In 2022, there were significant developments in the world of cryptocurrencies. Perhaps most notably was the sharp decline in the price of Bitcoin, which began around $48,000 in January but ended the year at just $16,500—a 65% drop over the course of the year.
This marks the largest drop since Bitcoin’s all-time high at $69,000, representing a 76% fall from the all-time high perspective.
Cyroinvest also experienced an overall loss for the year, amounting to just 25%. When measured in relative percentages, we are approximately three times better than the market. However, January has passed, and we have favorable winds at our backs—Cyroinvest has already earned around 25%, making for a strong start to 2023.
In the early autumn, Cyroinvest underwent a change in its otherwise stable team. Director Peter Lenler stepped down and was replaced by partner Joakim Sandroos, who looks forward to making a greater contribution to Cyroinvest and our clients. Furthermore, Christian Lisby joined as a new partner. Christian is an expert in public relations and runs his own consultancy. With him on board, we have many exciting things in the pipeline, which we will unveil over the course of the year.
The year has also seen interesting developments for Cyroinvest. For instance, Cyroinvest is represented in the Financial Supervisory Authority’s expert group on decentralized finance. The expert group’s purpose is to advise the financial authority and assist in the formulation of new initiatives in the crypto sector.
Cyroinvest has also participated in events with Binance Nordic—one of the exchanges we collaborate with—and will, of course, be present at the MiCA status update event at Plesner on February 8th.
In 2023, we will focus on further developing our trading algorithms. Since the summer, we have been working on a specific update to our software, which we expect to complete in the near future.
We are closely monitoring developments in the tax sector. The new EU regulation MiCA has been adopted, allowing for relaxation of the rules domestically. We are prepared for when the new regulations are in place—and we have some exciting news on the way that we look forward to revealing before the summer.
Thank you for being on board in 2022—we look forward to making the journey even better for everyone in 2023, and as always, we are just a phone call or an email away.
On behalf of Cyroinvest,