Recent information shows that Coinbase will soon be hitting a milestone in the direct listing. This has generated much excitement among crypto enthusiasts and investors. Crypto enthusiasts are eagerly awaiting the “Amazon moment” for their precious cryptocurrencies. The direct listing of Coinbase is bound to make it to the history books soon, as it is the first crypto exchange to get public.
Just last month— February 25th, 2021— official papers for Coinbase was documented with the US Securities and Exchange Commission. The company currently has a value rate of about one hundred billion dollars. Its secondary market, however, owns a share of approximately $373 million. This company thus ranks as the largest technological company, quickly displacing Facebook.
An analytical rep from the D.A Davidson establishment told reporters from CNBC that it is almost conclusive that both the crypto and stock markets will merge up and become intertwined with each other.
Luria, an analyst from D.A Davidson, told CNBC reporters that crypto is indeed a great asset and investment. He was of the opinion that this new move would become even more relevant— in the near future— to financial services. In his opinion, Coinbase is an excellent move for crypto.
Luria was also confident in the fact that great success awaits Coinbase if indeed it diversifies. He went further to explain that an investor would encounter fewer risks if s/he does invest in the Coinbase exchange. He also buttresses his point by comparing Coinbase investments with investing in a one-coin market, such as Bitcoin. His statement ended on a positive note for Coinbase and its new move.
Also worthy of note from his comments is the fact that the volatility of crypto markets is far more likely to influence the market value of Coinbase. Some of the tech industry’s biggest stocks hit big in 2020 but were still no match for Bitcoin. Such tech companies include Amazon, Apple, Google, Netflix, and Facebook.
Bitcoin outpaced the others in terms of the ROI gained. Coinbase is not only coming into the marketplace with a sound and commendable reputation and lots of hype as well, but it is storming the marketplace with the brilliance of cryptocurrency such as Bitcoin.
The mere fact that Coinbase, as a company, is involved in trading and investing in Bitcoin is solid proof of their transparency; it also speaks well of the company.