The Coinbase application for exchanging cryptocurrencies that appears on the screen of an iPhone.
Bitcoin hit a new record high of more than $ 63,000 on Tuesday as investors awaited the highly anticipated debut of the Coinbase cryptocurrency exchange.
Bitcoin price rose 5% in the past 24 hours and hit $ 63,171, according to data from Coin Metrics, before falling slightly to $ 62,653. Ether, the second most important digital coin after Bitcoin, also set a new record, rising to $ 2,222.
Coinbase will go public on Wednesday through a direct listing that could value the company at up to $ 100 billion – more than major operators of trading venues like Intercontinental Exchange, owners of the New York Stock Exchange. Crypto investors are hailing the company’s public debut as a major milestone for the industry after years of skepticism from Wall Street and regulators.
“This is really good and very important to the industry,” Marcus Swanepoel, CEO and co-founder of the London-based cryptocurrency platform Luno, told CNBC. “It will increase trust and transparency in our industry.”