Having a cryptocurrency exchange be listed on the NASDAQ is funny because cryptocurrency is thought to be decentralised meaning the government does not control it's supply and cannot produce more Bitcoin for example when it is in high demand.
So it is funny that Coinbase chooses to list on the financial market which is usually manipulated or controlled by institutional investors. However, being the first major cryptocurrency start-up listed in the US market, it has added more credibility to cryptocurrency showing it's power as it's listing IPO price beats the original reference price of USD$250.
Read more: Q1 2021 Portfolio Update | Crypto, Stock Holdings and Dividends
Coinbase IPO Price
Coinbase opened at $381 and quickly shot up as high as $429.54, before closing for the day at $328.28. It is amazing how valuations are nowadays with IPOs being so hot. From Airbnb to Slack and Roblox, IPOs really are red...