Summary
Coinbase Stock Will Be Available To Purchase On April 14th, 2021.
The Largest Cryptocurrency Exchange Is About To Get Much Larger.
Bullish Signal On Cryptocurrencies In General As Coinbase Brings Crypto Assets To The Mainstream.
Background
Bitcoiner,
On April 1st, 2021, Coinbase, one of the world’s largest cryptocurrency exchanges, announced the SEC declared its S-1 registration statement effective and the direct listing is expected to occur on April 14, 2021.
The Class A common stock will be trading on the NASDAQ under the ticker symbol $COIN.
Coinbase is the go-to place to buy cryptocurrencies in North America. The company has been around since 2012, only 3 years after Bitcoin was first created. Currently, Coinbase offers over 50 different cryptocurrencies to purchase on their site.
In 2020, Coinbase reported a revenue of $1.3 billion and ended the year with a net income of $322.3 million. Coinbase is currently valued at $77 billion dollars.
It is important to note the Coinbase IPO is not a true initial public offering because the company is directly listing its ticker on the Nasdaq.
Quick Story
Coinbase was the first place I went to buy Bitcoin when I first was intrigued by cryptocurrencies. I honestly had no idea what cryptocurrencies really were back in 2017. After performing some Google searches, it seemed Coinbase was the best way to get my hands on crypto!
Only if I knew I was going to dedicate my full time career to crypto 4 years later.
Why is this Important?
The Coinbase IPO announcement is important because the company currently has over 43 million customers using the exchange to buy, sell, or trade cryptocurrencies.
The initial offering will most likely allow the company to raise billions of dollars to reinvest back into the company. As Coinbase continues to grow, we will see many more cryptocurrencies be added to the list of crypto assets available to purchase. Even more important, we will see their user base explode. Each new user is another new crypto investor willing to drive up prices of crypto assets!
Sounds kind of like a Ponzi-scheme, I know. Although most cryptocurrencies are scams nowadays, there are still some great projects to be excited about!
Check out Hoodie Crypto’s Crypto 101 Trading Course to learn about the crypto assets we are currently buying!
Lastly, you can sign up for a Coinbase account using this link to get $10 of Bitcoin (although I personally recommend using Swan Bitcoin to buy Bitcoin).
Happy Thursday,
-Pod
BUY BITCOIN RIGHT NOW
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Eric Podwojski
Founder, Bitcoin EDU
Twitter: @epodrulz