Coinbase, founded in 2012, helps users buy, sell and store cryptocurrencies such as bitcoin and ethereum. The digital brokerage, which competes with Coinmama, CEX.IO and Gemini, has announced plans to launch in December.
The company said it plans to list its shares on the Nasdaq stock exchange under the symbol “COIN”. More than 43 million investors in more than 100 countries use Coinbase, which according to the company’s website makes $ 455 billion in operations and $ 90 billion in assets on the platform.
After years of skepticism, leading cryptocurrency bitcoin (LNR) is finally gaining mainstream credibility. Interest in bitcoin and other cryptocurrencies rose during the coronavirus pandemic, and some investors flocked to digital currencies as the US dollar weakened.
The total number of bitcoins traded together was worth more than $ 1 trillion last week as the price per coin rose to nearly $ 60,000. Bitcoin has declined somewhat since then and is currently trading around $ 51,000.
Tesla (TSLA), Mastercard (MA), Bank of New York Mellon and several other mainstream companies have made significant investments in bitcoin over the past few months to give legitimacy to the currency. According to the company, Robinhood has added up to six million new cryptocurrency customers so far in 2021. The average in 2020 was only 200,000 per month.
Yet bitcoin and other cryptocurrencies remain very volatile and subject to enormous spikes and collapses.
For example, Tesla CEO Elon Musk again tweeted a photo on Wednesday of the mascot of cryptocurrency dogecoin, which originally started as an internet parody based on a viral dog girl. The currency rose 10% in 30 minutes.