Breaking: Coinbase (COIN) to be worth more than Nasdaq, NYSE and EuroNext combined! $360 indicated

Ivan Brian FXStreet

The latest indicated price for COINBASE (COIN) is $360. Full trading is due to commence shortly. That valuation get close to a market capitalizastion of $100 billion. The combined market cap of the three largest stock exchanges in the world, NYSE, Nasdaq and EuroNext combined will not match that.

A high price indeed but with Bitcoin setting a new record high maybe it is worth it. That is for time and traders to decide.

Bitcoin has split investors' opinions between those who see it as a revolutionary development, wresting control from traditional government-controlled currencies to those, perhaps more traditional investors, who see it as an unregulated hype. Either way, the rise of Bitcoin cannot be avoided and COIN listing on the Nasdaq further inserts the crypto sector into the mainstream investor consciousness.

Bitcoin has had a stellar 2021 and, in perfect serendipity, set another new record high on Tuesday, just in time for this Coinbase IPO (well direct list!)

Coinbase was founded in 2012 and has a near 12% share of the crypto market according to regulatory filings. Coinbase has 56 million users.

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Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

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