Bitcoin Exchange Coinbase Seems to Open Significantly Higher With an IPO

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Coinbase Global, the largest US trading platform for digital currencies such as bitcoins, looks set to open sharply higher with its IPO in New York on Wednesday.

 

The indicators point to an opening price of $ 340. The shares are put on the market for a so-called reference price of $ 250 each.

The company will go to Wall Street via a so-called direct placement. No new shares are issued, but existing shareholders sell shares.

With the IPO on the Nasdaq technology exchange, Coinbase hopes to capitalize on the financial markets’ optimism about the economic recovery from the corona crisis and the substantial rise of cryptocurrencies such as bitcoins.

The price of the world’s most famous digital currency rose to a record level of nearly $ 65,000 on Wednesday.

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