This is why Coinbase $1,8B Q1 earnings is bullish for Bitcoin

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This is why Coinbase $1,8B Q1 earnings is bullish for Bitcoin

NewsBTC1 week ago
Published on April 06, 2021 08:56 GMT+0edited on April 06, 2021 09:02 GMT+0

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Within a week of its IPO, Bitcoin and crypto exchange Coinbase has generated great hype. Its earnings report for Q1 2021 could have an impact that will be felt throughout the crypto market.

Coinbase Will go public on April 14th, after some controversy. The exchange’s estimated valuation sits at $100 billion and will resale up to 114 million Class A common shares under the ticker COIN.

Per their report, the exchange has generated $1,8B in revenue during their first quarter of 2021. In addition, it registers a $730 to $800 million in net income (up 312%), a traded volume of $335 billion (up 272%), and $223 billion in assets on the platform.

One key data is their number of active users which present growth of over $10 million in comparison with 2020 standing at 56 million. This is …