Coinbase made a rousing debut on Wall Street on Wednesday, with the digital currency exchange’s stock opening at $381, giving it a market value of $100 billion.
The company’s listing on a public stock exchange is seen by some as an inflection point for digital currencies. Coinbase’s fortunes are seen as closely tied to Bitcoin, the most-popular cryptocurrency. Bitcoin has topped $63,000, up from $29,000 at the start of the year, and Coinbase said recently that its first-quarter revenue should total around $1.8 billion, exceeding its revenue for all of 2020.
Shares of Coinbase are trading on the Nasdaq under the ticker “COIN.”
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