-77%

est. 2Y upside i

FinTechSeries B

Rank

#3929

Sector

Fintech

Est. Liquidity

~3Y

Data Quality

Data: Medium

BitPay presents a risky equity opportunity for a job seeker.

Last updated: March 10, 2026

Bull (10%)+175%

Continued mainstream adoption of cryptocurrency payments, coupled with BitPay's expansion into new blockchain networks like Solana and Polygon, and strategic partnerships, drives transaction volume and revenue to over $100M by 2028. This growth, along with a favorable crypto market, justifies a valuation exceeding $1 billion, allowing for meaningful returns above the preference stack.

Base (45%)+30%

BitPay maintains its market position, growing revenue modestly to around $48M by 2028, primarily through stablecoin payment volume and existing merchant relationships. The company secures a modest uplift in valuation to approximately $475M, but returns for common stock are significantly constrained by the substantial liquidation preferences.

Bear (45%)-70%

Intensified competition from dominant incumbents like Coinbase, PayPal, and Square, coupled with regulatory headwinds or a prolonged crypto market downturn, severely impacts BitPay's transaction volume and pricing power. Revenue growth stalls, leading to a down round or acquisition at a valuation of approximately $110M, effectively wiping out most or all common stock value due to the $103M in liquidation preferences.

Est. time to liquidity~3.0 years

Preference Stack Risk

high

Funding Intensity

28%

Investors hold $103M in liquidation preferences ahead of common stock, representing 28.1% of the current $366M valuation.

Dilution Risk

high

Given the Series B was in 2018, further funding rounds are likely before a liquidity event, which will result in additional dilution for common stock holders.

Secondary Liquidity

limited

As a privately held company with an older funding round, active secondary markets for employee equity are likely limited or non-existent.

View all 2 open roles at BitPay →

Last updated: February 22, 2026

Questions to Ask at the Interview

Strategic questions based on BitPay's data — designed to show you've done your homework.

  • 1

    “Given the 2018 Series B valuation, how does BitPay assess its current valuation and what are the company's plans for future funding rounds or a liquidity event within the next 2-3 years?”

  • 2

    “With major players like Coinbase and PayPal expanding their crypto payment offerings, what specific strategies is BitPay implementing to differentiate its services and maintain its competitive moat?”

  • 3

    “Considering the significant liquidation preferences from prior funding rounds, how does BitPay ensure that common stock equity remains a compelling incentive for new and existing employees?”

Community

Valuation Sentiment

Our model estimates -77% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.