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Many experts have come forward with definite opinions on the Coinbase listing, which is the first of its kind in the crypto industry.
Coinbase is set to go live with a public offering on Nasdaq on Wednesday. Coinbase IPO is already affecting the financial market, and several experts have come forward to predict further market volatility and other surprising reactions to the planned public listing.
The massive cryptocurrency exchange is one of the largest globally and the largest in the United States, with a value of over $90bn, about 50 traded currencies, and 56 million individual users. The crypto exchange giant first filed for SEC approval in February and was finally approved for an IPO listing on April 14, this coming Wednesday.
Coinbase IPO Launch on Wednesday Confirms Crypto s Arrival as Asset Class
On 4/12/21 at 2:27 PM EDT
The planned launch of Coinbase s IPO this week coincides with Bitcoin s continued climb to what could be a new high and Wall Street s growing acceptance of the cryptocurrency as an asset class.
The cryptocurrency trading platform is scheduled to go public Wednesday via a direct listing on Nasdaq. Coinbase is a unicorn a privately held company valued at $1 billion or more and profits make it golden.
Gil Luria, an analyst at D.A. Davidson, said the deal is speculative, but could be an Amazon moment for investors.
Whipsawed Bitcoin investors eye Coinbase as steadier crypto bet
Brandon Kochkodin, Bloomberg News VIDEO SIGN OUT
For many investors, Coinbase Global Inc.âs trading debut next week will be an entry into the US$2 trillion cryptocurrency market.
And for those who have already gorged on Bitcoin, the arrival of the largest U.S. cryptocurrency exchange on the Nasdaq Stock Market could be what is needed to settle portfolios roiled by the asset classâs notorious volatility.
There are other stocks already tied to the bits and bytes of the various blockchains. Elon Muskâs Tesla Inc. and Michael Saylorâs MicroStrategy Inc. have both notably added billions worth of Bitcoin to their treasuries. But with Coinbaseâs public listing, investors will have the choice of an equity tied to cryptocurrencies that is so the hope goes less likely to suffer persistent cycles of boom and bust.
For many investors, Coinbase Global Inc.’s trading debut next week will be an entry into the $2 trillion cryptocurrency market.
And for those who have already gorged on Bitcoin, the arrival of the largest U.S. cryptocurrency exchange on the Nasdaq Stock Market could be what is needed to settle portfolios roiled by the asset class’s notorious volatility.
There are other stocks already tied to the bits and bytes of the various blockchains. Elon Musk’s Tesla Inc. and Michael Saylor’s MicroStrategy Inc. have both notably added billions worth of Bitcoin to their treasuries. But with Coinbase’s public listing, investors will have the choice of an equity tied to cryptocurrencies that is so the hope goes less likely to suffer persistent cycles of boom and bust.