San Francisco's Coinbase valuation pegged at $68 billion ahead of landmark US listing



by   |  VIEW 5001

San Francisco's Coinbase valuation pegged at $68 billion ahead of landmark US listing

Coinbase Global Inc., the San Francisco, California-headquartered world’s largest crypto asset brokerage firm, had issued a statement on Wednesday saying that recent private market inflows of fresh liquidities had soared the company’s valuation at an eye-propping $68 billion ahead of its planned US public listing, pointing towards a rapid increase in interest on digital assets from both institutional and retail traders as bitcoin gradually crawled higher close to its record peak above $60,000 reached over the weekend.

In point of fact, with investors’ optimism flying higher on digital assets over prospects of a mainstream adoption in near term, latest jawdropping valuation of Coinbase highlights the scale of capital inflows in crypto assets over recent pasts as bitcoin, the world’s most popular cryptocurrency was trading close to its record peak above $60,000 reached on Saturday.

Coinbase reports a 13-fold jump in valuation in less than six months

On top of that, according to a latest regulatory filing, Coinbase stocks were trading at a leveraged average price of $343.58 apiece during its first fiscal quarter of 2021 that ended on March 15, while at its third fiscal quarter of 2020 ending on September 30, Coinbase stocks had been traded at an average of $28.83 apiece, valuing the company at roughly $5.3 billion at that time, marking off a whopping 13-fold jump in valuation in less than half a year, data from PitchBook had unveiled.

According to Coinbase Global’s latest regulatory filing, the San Francisco-based world’s largest crypto exchange’s valuation had surged past those of NYSE-parent Intercontinental Exchange Inc, Nasdaq Inc alongside London Stock Exchange, while the original cryptocurrency, bitcoin, was last trading 2.05 per cent higher to just a notch shy of $59,000.