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On the floor on Wall Street, Coinbase Valuation Translucent of US $ 86 billion

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On the floor on Wall Street, Coinbase Valuation Translucent of US $ 86 billion

Coinbase Global Inc recorded a valuation of US $ 86 billion or Rp1,260 trillion (exchange rate (14,651 per US dollar) at the close of its Nasdaq debuton Wednesday (14/4). At the beginning of trading, Coinbase’s valuation had reached US $ 112 billion.
Coinbase’s debut on the stock market was made via a live listing. As a result, no shares were sold prior to the opening.

Reporting from Reuters, this corporate action marks another milestone in the development of bitcoin and digital assets. The IPO was held at a time when the value of crypto money skyrocketed as it started to get the support of big companies.

Coinbase shares opened at US $ 381 per share, up 52.4 percent from the reference price of US $ 250 per share set on Tuesday.

Although only 10.9 percent above the median price of US $ 343.58 when Coinbase was privately traded in the first quarter of 2021.

Shares closed at US $ 328.28, which dilutes Coinbase’s valuation to US $ 85.78 billion. In comparison, the owner of the New York Stock Exchange, the Intercontinental Exchange Inc. has a market capitalization of about US $ 66 billion.

Founded in 2012, the San Francisco-based company offers 56 million users globally and an estimated US $ 223 billion in assets on its platform, accounting for 11.3 PERCENT of the crypto asset market share.

“We are very grateful to be able to bring transparency to the crypto economy, the ecosystem we have built over the past 10 years,” said Coinbase Chief Financial Officer Alesia Haas.

Coinbase was valued at just under US $ 6 billion as recently as September, but has soared in line with bitcoin’s gains this year.