Coinbase

Wall Street opens the way to cryptocurrencies and Coinbase launches successfully

What many thought could never happen has happened. Cryptocurrencies continue to gain their own space in the world of finance and Coinbase entered with firm step in its new adventure to become a public company that is listed on the Nasdaq Technology Exchange.

The company, founded by Brian Armstrong when he was less than 30 years old, is today the leader in the market for trading platforms. And for proof is that it started stock trading at a price of $ 250 per share.

This firm is preceded by its good reputation for being the only one that makes money within the universe of digital currency trading platforms. In fact, so far this year, despite the pandemic, it had revenues in the order of 1.8 billion dollars in the first three months, nine times more than in the same quarter of 2020.

The resistance of the market and of those who conservatively made a superfluous analysis about the survival of this new way of investing has been put aside and rather during the COVID-19 pandemic we have seen an exponential growth in the price of digital currencies such as Bitcoin.

The symbol designed for Coinbase on Nasdq is “COIN” and its launch on the stock market has brought the company’s valuation to $ 85.78 billion. Its secret to having obtained this market valuation is its popularity among regular cryptocurrency investors, as this platform gives them an easier way to exchange Bitcoins and other digital currencies.

The Dallas Morning News portal highlights that, unlike many public companies, Coinbase is profitable. The company estimates that it had profits between 730 and 800 million dollars during the first quarter of 2021.
The growth that cryptocurrencies and their platforms are experiencing is unstoppable. Hence, the perception of the world today and the ways of investing depends on how elastic the paradigms that each investor decides to possess are.

Samuel Edwards
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