Coinbase Nears IPO 🔔

Coinbase Nears IPO 

Good news for fans of Bitcoin and decentralized currencies — cryptocurrency exchange Coinbase is gearing up for its public debut this Wednesday on the Nasdaq. Analysts expect the fast-growing company at the center of the cryptocurrency boom to go public at a valuation of roughly $100 billion — more than the Nasdaq and New York Stock Exchange combined.

The massive valuation is an incredible rise from the 2012 company that began in a San Francisco apartment. Interestingly, founders Brian Armstrong and Fred Ehrsam met anonymously in a Bitcoin forum on Reddit.

But Coinbase’s valuation isn’t your average valuation. Coinbase is unusual because its market value rises in lockstep with the top cryptocurrencies. In fact, the company only turned a profit last year as institutional investors propelled Bitcoin and other cryptocurrencies to record highs. Bitcoin has risen over 750% in the past 12 months, and Ethereum has jumped over 1,100%.

Last week, Coinbase gave investors a first-quarter update and reported revenue in the first three months of 2021 skyrocketed to roughly $1.8 billion from $190.6 million in the same quarter a year ago. If that doesn’t make you see why analysts expect the company to debut at a monumental valuation, last week, Coinbase said it expects a first-quarter profit of up to $800 million, more than double its total 2020 earnings.

Coinbase is arguably the most prominent crypto exchange in the world, and as institutional demand for crypto continues to surge, the company could continue to prosper. It’ll be interesting to see what happens to the company’s stock when they go public tomorrow on the Nasdaq.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:

More Posts

Load More
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Facebook Twitter Youtube Instagram Snapchat Tiktok
learn
products
plan
Who we are
blog

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community.The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results.Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such.Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.