Wall Street is seething over Coinbase's upcoming IPO
The upcoming IPO of the popular exchange will add legitimacy to the crypto market. This is the opinion of analysts. Coinbase is not a floating income social network. It's a hardcore business with millions of dollars in revenue
The cryptocurrency exchange receives income in the form of commissions from each transaction. In January, volumes reached a record all-time high of $ 83 billion.
The CEO of Polychain, one of the founders of Coinbase, noted that you can have nothing to do with bitcoin, not own cryptocurrency assets, but if you have experience in business, it is immediately clear that Coinbase is a great investment.
The exchange is an example of a mega-profitable business. It has grown rapidly and has long-term prospects. It's hard to ignore, even when compared to traditional finance.
Looking at this, it's no surprise that interest in Coinbase is growing all the time. In theory, this will be one of the largest IPOs of 2020. This fact is easily explained by Devin Ryan, an employee of JMP Securities.
The analyst wrote that there will be a lot of demand for a good company with a solid business model. And it's not just about Coinbase, but other cryptocurrency IPOs as well.
According to him, over the past month, dozens of clients have consulted with him on the crypto market. This means that institutional capital will be actively redistributed between traditional and cryptocurrency assets.