Crypto bulls are out in force as growing list of companies embrace Bitcoin, even as skeptics doubt the durability of the boom.Bitcoin rose as much as 4.3% to $62,531, exceeding the previous peak in March.Bitcoin jumped to an all-time high as the mood in cryptocurrencies turned bullish before Coinbase Global Inclusive goes public.
Coinbase is planning to go public through a direct listing in which it will not raise any new capital, it said in an S-1 filing. The direct listing allows current shareholders to trade their shares without a lock-up period that is typical in an initial public offering. It was valued at about $90 billion in its final week of trading on Nasdaq’s private market.
The token rose as much as 4.3% to $62,531, exceeding the previous peak in march. Crypto bulls are out in force as growing list of companies embrace Bitcoin, even as skeptics doubt the durability of the boom. In one of the most potent signs of Wall Street’s growing acceptance of cryptocurrencies, Coinbase will list on the Nasdaq on April 14 at a valuation of about $100 billion.
Nick Jones, CEO and co-founder at cryptocurrency wallet Zumo conveyed that “It’s the evolution of an industry that used to sit on the periphery,it really blurs the lines between crypto and more traditional financial institutions.”
Goldman Sachs Group Inclusive and Morgan Stanley have announced plans to offer their clients access to crypto investments. Tesla Inclusive earlier this year disclosed a $1.5 billion investment in Bitcoin and more recently started accepting it as payment for electric cars.
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