The cryptocurrency and equity markets are buzzing in anticipation of the upcoming Coinbase IPO later this year. With the rise of Bitcoin and other cryptocurrencies catching fire, the number of people using Coinbase has surged in the last year.
To prove the validity and bring crypto even more into the mainstream, Coinbase will be raising hundreds of millions of US dollars to fund its mission of proving that Bitcoin is the best currency.
In its upcoming S-1 filing, Coinbase will reportedly report its assets, liabilities, and revenues all in US dollars.
“Our IPO will prove that crypto is the future of currency,” said Coinbase CEO Brian Armstrong, who takes his salary and bonuses in US dollars. “We are very excited to allow our customers to buy Bitcoin, Ethereum, and a bunch of other made up coins, while taking our lucrative fees in far inferior US dollars.”
Coinbase has engaged several investment banks to calculate the price range, in US dollars, at which the company should offer its shares. They’re expected to go public sometime in early 2021, at which point the US dollar will likely become defunct. However in the meantime they will begrudgingly be forced to transact in that antiquated system.