Coinbase Digital Wallet Officially Takes The Floor On The Wall Street Stock Exchange

Ilustrasi Coinbase (Photo by Pierre Borthiry on Unsplash)

JAKARTA - A digital wallet as well as a cryptocurrency exchange platform, Coinbase Global Inc has officially listed its initial public offering (IPO) on Wall Street, United States (US). Coinbase became the first cryptocurrency platform to list shares on the Nasdaq Exchange under the ticker code COIN.

Coinbase's debut on the stock market was made via a live listing. As a result, no shares were sold prior to the opening.

Reporting from Reuters, this corporate action marks another milestone in the development of bitcoin and digital assets. The IPO was held at a time when the value of crypto money skyrocketed, thus getting the support of big companies.

Coinbase's stock movement is also moving quite dynamically. The share price opened at US $ 381 / share and quickly shot up as high as US $ 429.54 (Rp.5.5 million), before falling back below the IPO price and hitting a low of around US $ 310 (Rp.4.5 million) .

Coinbase was founded in 2012. The company simplified purchasing cs bitcoin and has emerged as the most popular crypto exchange in the US with more than 56 million users.

"We are very grateful to be able to bring transparency to the crypto economy, the ecosystem we have built over the past 10 years," said Coinbase Chief Financial Officer Alesia Haas.

Before taking the floor on the US stock exchange, Coinbase announced its first quarter 2021 financial report, which reached US $ 1.8 billion or around Rp.26 trillion, up nine times from the same period last year. Coinbase's IPO also turned its CEO Brian Armstrong into a mega-billionaire.

In addition, Coinbase's IPO also pushed bitcoin price to more than double this year and is currently trading near a record price of around US $ 62,000. The second most valuable cryptocurrency Ethereum has also nearly tripled.

The price of bitcoin has also increased thanks to investments from large companies from Elon Musk Tesla (TSLA) and MicroStrategy (MSTR) as well as the support of large financial companies such as MasterCard (MA), PayPal (PYPL) and Bank of New York Mellon (BK).