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It comes as the prices of bitcoin and other virtual currencies have soared over the past year, as investors looked to diversify their portfolios in the belief that a spike in inflation is coming. Bitcoin hit a fresh record high of more than $64,000 on Wednesday and has more than doubled in value year-to-date.
Coinbase s public market debut is potentially a watershed event for the crypto industry and will be something the Street will be laser focused on to gauge investor appetite, said Dan Ives, a tech analyst at Wedbush Securities. It s going to legitimize a lot of what these companies are doing, Marcus Swanepoel, CEO of London-based crypto platform Luno, said of the Coinbase debut. For one, it s going to show just how big the industry is and how much it s growing.
It comes as the prices of bitcoin and other virtual currencies have soared over the past year, as investors looked to diversify their portfolios in the belief that a spike in inflation is coming. Bitcoin hit a fresh record high of more than $64,000 on Wednesday and has more than doubled in value year-to-date.
Coinbase s public market debut is potentially a watershed event for the crypto industry and will be something the Street will be laser focused on to gauge investor appetite, said Dan Ives, a tech analyst at Wedbush Securities. It s going to legitimize a lot of what these companies are doing, Marcus Swanepoel, CEO of London-based crypto platform Luno, said of the Coinbase debut. For one, it s going to show just how big the industry is and how much it s growing.