In late-morning trading in London on Tuesday, the original cryptocurrency reached a new high of around 62,857 dollars. By lunchtime, it had fallen back slightly but was still up 4.8 percent at 62,779 dollars.
While the surge in Bitcoin’s value has not been linked directly to the upcoming Coinbase listing, the trend seems to indicate that many are expecting the company’s debut will prove a successful one, potentially driving even more interest in the industry sparked late last year by Bitcoin’s meteoric rise.
Coinbase allows users to buy, sell, send and exchange cryptos including Bitcoin, which was valued at around 90 billion dollars in private share trading in early March.
Its future as a publicly traded firm was also given a boost last week when it reported that active users on its platform had surged to 6.1mln from 2.8mln in the fourth quarter of 2020, while verified users, those with Coinbase accounts, jumped to 56mln from 43mln.
Meanwhile, the firm reported that it had raked in 1.8 billion dollars over the period as well as a net income of around 730-800 million dollars. The company also saw its trading volumes top 335 billion dollars, while the total assets on its platform swelled to 223 billion dollars from 90 billion dollars in the fourth quarter of last year. Around 122 billion dollars of those assets came from institutions, showing the firm has managed to attract professional cash into the crypto market.