Crypto exchange Coinbase is set to reach a $147 billion valuation after its initial public offering; CoinShares CSO Meltem Demirors shared his thoughts on CNBC Squawk Box.
"In private markets we're looking at $147B right now, which makes @coinbase bigger than Goldman Sachs. That is my target for the end of the week, let's see if they do it," @Melt_Dem has a bold prediction for this week's #coinbase direct listing. pic.twitter.com/lbwbQdfwHr— Squawk Box (@SquawkCNBC) April 13, 2021
- CoinShares Chief Strategy Officer Meltem Demirors expects the Coinbase valuation to rise to $147 billion by the end of the week.
- The valuation of the company for its direct listing is $90 billion, while the market capitalization of Goldman Sachs is $113.79 billion.
- Demirors said Coinbase stocks have so far been trading on private markets. Shares will be traded on the Nasdaq under the COIN ticker.
- The Nasdaq is happy to welcome shares of the U.S.’ biggest digital exchange to stay competitive with the New York Stock Exchange.
- Analysts believe the Coinbase IPO has played a major role in the recent rally of Bitcoin.
- BTC hit the $61,200 level on Monday. It has since climbed higher and hit two new all-time highs in a row: $62,700 and then $63,000.