BackCoinbase soars in market debut, valued near $100 billion
The company’s listing on a public stock exchange is seen by some as an inflection point for digital currencies, as Coinbase’s fortunes are closely tied to Bitcoin, the most popular cryptocurrency
PremiumCoinbase made a rousing debut on Wall Street, with the digital currency exchange’s first trade of $381 giving it a market value of $100 billion.
The company’s listing on a public stock exchange is seen by some as an inflection point for digital currencies, as Coinbase’s fortunes are closely tied to Bitcoin, the most popular cryptocurrency.
Bitcoin has topped $63,000, up from $29,000 at the start of the year, and Coinbase said recently that first-quarter revenue should total around $1.8 billion, exceeding its revenue for all of 2020. Shares of Coinbase are trading on the Nasdaq under the ticker “COIN,"
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This story has been published from a wire agency feed without modifications to the text.
