Bitcoin hit a record high of over $62,000 on the morning of 13 April as the Coinbase IPO prepares to go live tomorrow.
The San Francisco-based bitcoin and cryptocurrency Coinbase is on a potential $90bn valuation when it lists on the US tech index Nasdaq on Wednesday April 14, making it a a very big week in cryptocurrency history.
BNY Mellon, Mastercard and Tesla are among those to have embraced or invested in cryptocurrencies.
In the long run, Coinbase looks poised to grow along with the crypto economy. But buying in at such a steep valuation carries obvious risks."
Analysts are saying that Coinbase's IPO will help with Bitcoin inflows and a more positive attitude from the US regulators.
But there is also plenty of caution about the risks. According to the Motley Fool's analysis ahead of the IPO: "In the long run, Coinbase looks poised to grow along with the crypto economy. But buying in at such a steep valuation carries obvious risks. Most investors would be well-advised to stay on the sidelines, watch how Coinbase performs, and -- if they are interested -- await a more attractive entry point."