Bitcoin hits new all-time high above $ 63,000 ahead of Coinbase debut

[ad_1]

The Coinbase cryptocurrency exchange application seen on the screen of an iPhone.

Getty Images

Bitcoin hit a new record high of over $ 63,000 on Tuesday, as investors awaited the much-anticipated public debut of the Coinbase cryptocurrency exchange.

The price of bitcoin climbed to $ 63,729.5 on Tuesday, according to data from Coin Metrics. It was last trading at just under $ 63,000. Ether, the second most valuable digital coin after bitcoin, also set a new record, climbing to $ 2,317.

Coinbase is expected to go public on Wednesday via a direct listing that could value the company up to $ 100 billion, more than major operators of trading platforms like Intercontinental Exchange, which owns the New York Stock Exchange. Crypto investors are hailing the company’s debut as a major milestone for the industry after years of skepticism from Wall Street and regulators.

“This is really good and really important for the industry,” Marcus Swanepoel, CEO and co-founder of London-based cryptocurrency platform Luno, told CNBC. “It will increase trust and transparency in our industry.”

[ad_2]