Coinbase, one of the largest cryptocurrency exchange platform, announced that it filed for IPO. It has been a great year for cryptocurrencies and Coinbase is trying to monetize on this hype, however, this IPO will give investors a chance to bet on the crypto-market without investing in one separate coin.
Coinbase is a cryptocurrency exchange founded in 2012 and headquartered in San Francisco. They cover cryptos such as Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Tezos, and many other cryptocurrencies and offer their services in more than 100 countries worldwide.
The last valuation that we got regarding Coinbase was back in 2018 when they were valued at around $8 billion after raising an additional $300 million to expand their operations and improve services, however since then cryptocurrencies have gone up drastically, Bitcoin broke all records, trading at around $23,000 at the time of writing this article. Also, a lot of institutional investors and billionaires are becoming more interested in cryptocurrencies. Due to all this latest hype, Coinbase will be definitely worth much more when they will start selling shares.
Coinbase S-1 filling is not public yet, however here are some additional facts that are pointing to successful IPO. First of all, IPO’s have been very successful this year. Companies such as AirBnb and DoorDash showed great results. There are some other great IPO’s coming soon, however Coinbase will definitely be one of the most anticipated. Coinbase said it has more than 35 million verified users in more than 100 countries and more than $25 billion in assets on its platform which leads us to the inevitable fact that investors will be flocking to get at least small part of this company.
Whatever stock investors think Coinbase is worth as it prepares to list, crypto investors are convinced that Bitcoin’s long-term prospects are bright. It’s gold 2.0 for sure and many iconic investors like Ray Dalio are starting to see it the same way. If you would like to invest in cryptocurrencies you could do it with our trusted partner eToro by clicking on the banner bellow:
