The exchange’s Wall Street listing could represent the beginning of cohesion between digital money and traditional finance.
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The upcoming IPO of Coinbase , the first publicly traded cryptocurrency exchange, will be a huge financial milestone. According to analyst Gil Luria, from DA Davidson , it will be an ‘Amazon moment’ for electronic currencies , as it represents the convergence between these and conventional finance.
In an interview for CNBC , Luria explained that Coinbase’s direct listing on the stock market will be a historic event, as cryptocurrencies will go from being “a great curiosity to becoming the future path for much of the financial system .”
In a recent note, DA Davidson calculated a “buy” rating and a price target of $ 195 for the cryptocurrency exchange . Analysts claim that the experience that Coinbase provides to the user, in terms of facilitating the exchange between cryptocurrencies and fiat money, has made the platform the “leader” of exchanges.
“With a big goal on its back, being a crypto wallet, (to date) Coinbase has been able to manage both government regulators