Coinbase Closes at Over $100bn
The start of this year has certainly been a bit of an exciting one in the finance world, whether you’ve been keeping track of the ongoing big market change largely focussed around Game Stop and other stocks like AMC, or you’ve been paying closer attention to the growing world of crypto, it seems the news around something big emerging hasn’t stopped throughout the start of the year, and given the growth being seen in many of these spaces it certainly doesn’t appear to be something slowing anytime soon.
The latest news certainly comes from the crypto financial space – with Bitcoin surging past $60,000 twice already this year and the direct support from bigger companies such as Tesla and MasterCard who had unveiled plans to include digital currencies in the coming years showing just how much support has grown in the market across a short few years. Also, given it is already a huge part of many online services from gaming, with the likes of online casinos now starting to allow these different payment methods. This alongside promotions such as BetMGM bonus, is helping to take gaming to new heights.
Shopping has also seen crypto enter its space. Crypto as a whole is starting to find the footing many had hoped it would find. One of the biggest crypto exchanges in Coinbase also recently went public, opening with a price of $381 but later dropping a little, it was able to close out with value at over $100bn, and whilst it has since settled a little lower at $86bn it was still able to pass giants like BP, and has become a ‘landmark moment’ for crypto as a whole.
There has always been a fear within crypto around volatility, particularly in the early days of bitcoin where prices would bounce around a lot, but recently it does appear that things have been much more stable particularly with other crypto markets like Ethereum, and the recent launches of similar markets like NFT’s which have help push a bit more interest forward too.
For many, the big question now will be what next? Whilst the successes here certainly won’t change the finance market or the financial game as a whole, the growth in popularity and the idea that it could be used for more than just a novelty token and holds real value and real usage as more businesses get on board – but creating another overnight billionaire and holding such a huge value now, crypto is here to stay – and although there are now calls for more scrutiny, chief exec Brian Armstrong had stated that regulation was ‘right up there with cybersecurity’ and that “we’re very excited and happy to play by the rules.” An exciting time for all involved certainly, and a big opportunity now on the financial market that could spur many others to follow too.
Image Credit: news.bitcoin.com
