Bitcoin hits all-time high ahead of coinbase listing on US exchange
Bitcoin prices on Tuesday climbed to an all-time of $63,000, a day before the listing of Coinbase on the Nasdaq stock exchange in the United States.
Coinbase is a trading platform where crypto traders can buy or sell different types of cryptocurrencies.
Shares of the company will be listed on Nasdaq on April 14, under the ticker “COIN”.
With the development, Coinbase will be the first crypto trading company to be listed on the stock exchange.
Bitcoin had previously peaked at $60,743 per coin in March before it moderated between around $55,000 and $59,000.
Last week, the cryptocurrency market capitalisation hit a new high of $2 trillion, with Bitcoin accounting for half of total global crypto market cap.
On Tuesday, the cryptocurrency continued to soar, after receiving endorsements from top firms and individuals including Elon Musk, Tesla CEO, and Mastercard.
Tesla said it would hold $1.5 billion of the cryptos on its balance sheet. It later announced that bitcoin can now be used as a payment method for its products.
The Bank of New York Mellon Corp., an American investment banking services holding company, also announced that it will hold, transfer and issue Bitcoin and other cryptocurrencies for institutional customers.
Goldman Sachs, a multinational investment bank, adopted similar approach saying it will begin to offer investment opportunities in bitcoin and other digital assets.
Meanwhile, the Central Bank of Nigeria recently directed banks and other financial institution to close accounts of persons or entities involved in cryptocurrency transactions.
The CBN argues that cryptocurrencies pose the risk of loss of investments, money laundering, terrorism financing, illicit fund flows and other criminal activities.
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