Coinbase would soon make its direct listing market debut which has been awaited by speculators and interested investors for the new cryptocurrency, which Nasdaq has revealed its initial reference price for $250. Alongside this report, Bitcoin has achieved an all-time high for its record that has achieved more than $63,000 per unit of the cryptocurrency.
Coinbase Reference Price According to Nasdaq
BEVERLY HILLS, CALIFORNIA - OCTOBER 23: Brian Armstrong, cofounder and CEO of Coinbase speaks onstage during 'Tales from the Crypto: What the Currency of the Future Means for You' at Vanity Fair's 6th Annual New Establishment Summit at Wallis Annenberg Center for the Performing Arts on October 23, 2019 in Beverly Hills, California.
According to CNBC, Coinbase is yet to make its initial public offering (IPO) and market debut but it has been generating a lot of buzz and talks in the industry, especially after Nasdaq reveals its reference price. While the declaration of Nasdaq for $250 as a starting point for Coinbase brought a lot of speculations, nothing is set to stone as it is not yet its final price.
However, with this reference point, it is believed that Coinbase would be valued at around $65.3 billion once it hits the market on its debut that would be soon coming for the company. After being a privately traded and investor-only company since 2012, the US-based cryptocurrency would finally open its doors for its IPO, with CEO Brian Armstrong already valued at almost $14 billion.
What makes Coinbase popular is that it would allow its current shareholders to trade their owned stocks directly to the public via the stock market and other platforms. This is a different approach compared to other corporations and cryptocurrency, making Coinbase one of the very few to observe this.
Read Also: China Bitcoin Mining Could Reach 296.59 TWh: This Could Affect Its Climate Change Reduction Programs
Bitcoin All-time High Price
A visual representation of the digital Cryptocurrency, Bitcoin on October 23, 2017 in London, England.
Recently, Bitcoin (BTC) prices have soared to an all-time record of $63,700 amidst the upcoming public offering by its soon-to-be rival, Coinbase from Armstrong. While Satoshi Nakamoto is a pseudonym for Bitcoin's creators, the cryptocurrency grew high in popularity and has been one of the most popular forms of online money.
Bitcoin's popularity has made it one of the most expensive and pricey cryptocurrencies in the world, which amounts to a high trading point in the current stock market. Initially, Tesla has allowed the use of Bitcoin to buy an electric vehicle from the company, and base models of the car can be bought for less than 1 BTC in its current value.
Coinbase vs. Bitcoin: Which is Better to Invest In?
Coinbase and Bitcoin are beyond comparable during this time, especially as the value of Bitcoin is more than 20 times the reference price of Coinbase at this moment. However, it is important to note that the prices of cryptocurrency have been seeing a trend of massive growth, and starting at small businesses can get to lengths over time.
Related Article: Coinbase CEO Could be Next 'Elon Musk-Rich' Billionaire, And Stock's Not Going Public Yet
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Written by Isaiah Alonzo
