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

Technology

In this article

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

Bitcoin surged to a fresh record high of more than $62,000 on Tuesday, as investors awaited the highly-anticipated stock market debut of cryptocurrency exchange Coinbase.

The price of bitcoin climbed more than 4% in the last 24 hours to hit $62,718, according to data from Coin Metrics. Ether, the second-most valuable digital coin after bitcoin, also set a fresh record, climbing to $2,210.

Coinbase is set to go public on Wednesday, and could be valued at as much as $100 billion — more than major trading venue operators like Intercontinental Exchange, owner of the New York Stock Exchange. Crypto investors are hailing the company’s stock market debut as a major milestone for the industry after years of skepticism from Wall Street and regulators.

Articles You May Like

At least one dead, several injured in two explosions at Jerusalem bus stops
Adidas launches probe into claims Kanye West showed porn and explicit images of Kim Kardashian to staff
Putin trying to ‘starve Ukrainians into giving up war but will fail’
World Cup pundit’s mother killed by truck – forcing star off-air during match
Get ready for a prolonged downturn that’s worse than 2000 or 2008, billionaire VC Doug Leone says