The price of Bitcoin climbed as high as to $63,236 before settling down to $62716 at the time of this writing.
The cryptocurrency has set a new all time high (ATH) breaking its previous March 13th peak of $61,742. Bitcoin is reacting to a major milestone that the crypto community is going to achieve with coinbase set to go public on Wednesday.
After years of skepticism by WallStreet and regulators alike, Coinbase will finally go public through direct listing. This is a historic moment for the crypto community. The positive effects of which can be seen on Bitcoin and several other Altcoins.
In the past year, Bitcoin has provided more than ninefold returns to its investors. As compared to returns provided by traditional financial instruments like equities or bullions the return is much higher. This in turn has stoked the interests of many institutional investors who in the past year have become quite keen on including cryptocurrency in their investment portfolio.
A cryptocurrency exchange platform going public for the first time, is a major milestone for the cryptocurrency community , Wall Street and regulators alike. This is going to set the direction for innovation, adoption and regulation in the cryptocurrency landscape.
In Fact, crypto investors are already hailing Coinbase’s debut as a “major milestone” for the industry. As reported by CNBC Marcus Swanepoel, CEO and co-founder of London-based cryptocurrency platform Luno, thinks “It’s going to increase the trust and transparency in our industry.”
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