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Founded in 2012, Coinbase helps users buy, sell, and store cryptocurrencies such as Bitcoin and Ethereum. The digital brokerage, which competes with Coinmama, CEX.IO and Gemini, has announced plans to go public in December.
The company announced that it plans to list its shares on the Nasdaq stock exchange under the symbol “COIN”. More than 43 million investors in more than 100 countries use Coinbase, representing $ 455 billion in transactions and $ 90 billion in assets on the platform, according to the company’s website.
After years of skepticism, leader in cryptocurrency Bitcoin (ARSC) finally gaining credibility. Interest in bitcoin and other cryptocurrencies has skyrocketed during the coronavirus pandemic, and some investors have flocked to digital currencies as the US dollar weakens.
The total number of bitcoin exchanges were collectively worth over $ 1 trillion last week, with the price per coin soaring to nearly $ 60,000. Bitcoin has fallen somewhat since then and is currently trading around $ 51,000.
You’re here (TSLA), MasterCard (MY), Bank of New York Mellon and several other traditional companies have made significant investments in bitcoin in recent months, helping to legitimize the currency. Robinhood has added six million new cryptocurrency customers so far in 2021, according to the company. The average was only 200,000 per month in 2020.
Yet bitcoin and other cryptocurrencies remain extremely volatile and prone to huge spikes and crashes.
For example, Tesla CEO Elon Musk tweeted again on Wednesday a photo of the cryptocurrency dogecoin mascot, which originally started as an internet parody based on a viral dog meme. The currency climbed 10% in 30 minutes.
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