By mid-morning, it was indicated that the shares would open at $ 350. This would value Coinbase at $ 91.5 billion.
“When it comes to Coinbase, this is pretty much the cryptocurrency event of the year,” said Jean-Marie Mognetti, CEO of CoinShares, a European digital asset manager, which recently began trading on the Nasdaq Stock Exchange. Nordic. “It shows that bitcoin is for everyone.”
And that will also turn Coinbase CEO Brian Armstrong into a billionaire. Priced at $ 350 per share, its 39.6 million shares will be worth just under $ 14 billion.
Ehtereum, the second most valuable cryptocurrency, has almost tripled thanks in part to the fact that it is the digital payment used in non-expendable or NFT token transactions.
“The Coinbase listing should pay more attention to cryptocurrencies and help further legitimize it,” said Rachid Ajaja, CEO of AllianceBlock, a blockchain capital markets company. “You also have more and more financial institutions getting into cryptography.”
That’s why a first-time Coinbase investor said that even if stocks rise during their first few days, it could still be a good buy.
“Would we be Coinbase investors with a valuation of $ 100 billion? Yes,” said Matthew Le Merle, managing partner of Fifth Era & Blockchain Coinvestors, a mutual fund that invested in Coinbase after a round of financing that went valuing the company at $ 8 billion. A few years ago.
Competitors are also excited about the Coinbase list.
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