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Coinbase's COIN Stock to Go Live on Nasdaq April 14

Posted by Bill Rippel on April 02, 2021 - 1:22am

The COIN ticker is coming to public markets soon, Coinbase announced Thursday.

Coinbase will begin the public trading of its stock on April 14, it said Thursday.

The crypto exchange will also hold a first-quarter earnings call on April 6, providing a financial outlook for 2021, Coinbase said in a press release.

There’s been much anticipation about the Nasdaq listing. Prices for the shares are predicted to fall between $300 and $350, valuing the trading platform at about $100 billion. The listing would put Coinbase atop an emerging class of publicly traded firms dealing in bitcoin (BTC, -0.84%). Further, a $100 billion debut would make Coinbase more valuable than traditional tech stocks such as Uber.

Read more: Coinbase Is Going Public: Everything You Need to Know

Based on the average price of $343.58 of shares traded on Nasdaq’s private market last month, CNBC calculated Coinbase CEO Brian Armstrong’s 39.6 million shares will be worth $13.6 billion, catapulting him into the “decabillionaire” rankings alongside the likes of Jeff Bezos, Elon Musk and Bill Gates.

The price of bitcoin increasing tenfold over the course of the last year has caught the market by surprise, with banks and institutions now scrambling to get a piece of the action. 

Investors in Coinbase’s early fundraisings, a close-knit group of Silicon Valley investment firms and early crypto believers, have increased their investments by 100-fold in some cases. The windfall could spread much further, however: The endowment fund of Duke University will be a beneficiary of Coinbase’s public listing, CoinDesk reported last week.

Simon Keighley Thanks for sharing when Coinbase will begin the public trading of its stock, Bill - it will be interesting to see which coin exchange follows suit.
April 2, 2021 at 7:47am
Charles Phillips It is unteresting to see how "banks and institutions now scrambling to get a piece of the acti" after noticing the price of Bitcoin increasing tenfold during last year. coinbase is no different. Thanks for sharing, Bill.
April 2, 2021 at 3:21am