Technology

Bitcoin surpasses US $ 60,000 before Coinbase goes public

The price of bitcoin was approaching its all-time high on Monday, carried by the wind that is breaking records in all markets and by the approach of the IPO of one of the largest cryptocurrency sales platforms, Coinbase .

The first cryptocurrency traded for US $ 60,223 around 10 a.m. GMT (6 a.m. in Quebec) (+ 0.94%). Its record reached in mid-March stands at $ 61,742.

The sector’s number 2, ethereum, gained 0.57% to $ 2,155, after reaching a historic high of $ 2,200 earlier on Monday.

The entire cryptocurrency market reached a size of more than $ 2,000 billion, according to the specialist site Coinmarketcap, which lists more than 9,000 different cryptocurrencies and assesses their market by multiplying their price by the number of “coins” issued.

The market continues to swell: all cryptocurrencies were worth less than $ 500 million at the end of November 2020.

Many traditional investors are turning to the first of cryptocurrencies, and big names on Wall Street like JP Morgan or Black Rock now offer their clients specialized funds.

“The first stock market listing of an exchange could reinforce the idea that cryptocurrencies have their place in traditional finance,” comments Ipek Ozkardeskaya, analyst at SwissQuote.

Coinbase was founded in 2012 in San Francisco and provides services for buying, selling and managing cryptocurrency wallets.

According to the latest information published by Coinbase, more than 56 million individual users have opened an account on the platform, which allows them to buy or sell bitcoins, in whole or in part, among other things.

While the use of cryptocurrencies as a means of payment remains minimal, some investors are betting that bitcoin will become a form of digital gold: a valuable asset whose issuance is not controlled by a central bank.

The cryptocurrency market is also not the only one to break records recently: the appetite of American investors pushed the Nasdaq and S&P 500 indices to new all-time highs on Friday.

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