zone: Popup - MM, In a new tweet, the Bitcoin bull says the IPO of the US-based crypto exchange is going to divert institutional investments away from cryptocurrency markets. /* load placement for account: Money Map Press, Don't Miss This Shot at a $78,000 Windfall: This tiny firm is about to make the entire world wire-free. Learn more…. It wrote, “Coinbase Global, Inc. … Required fields are marked *, Sign me up for the Money Morning newsletter. But Coinbase is a private company, so you won't be able to buy Coinbase stock anytime soon. On Jan. 19, ADT Inc. (NYSE: ADT) stock opened to the public at $12.65 per share. This week, it topped $20,000 for the first time ever, and even surpassed $23,000 at one point. © 2021 Money Morning All Rights Reserved. Save my name, email, and website in this browser for the next time I comment. Today, we'll show you exactly why we wouldn't recommend buying Coinbase stock. ados_add_placement(9794, 307044, "azk740606", 2629) In 2018, the company was valued at $8 billion after closing a $300 million round of private funding, according to Tech Crunch. But retail investors who bought shares of SNAP at those prices, hoping it would be the next Facebook Inc. (Nasdaq: FB), got burned. Market data powered by FactSet and Web Financial Group. var ados = ados || {}; The largest cryptocurrency exchange in the U.S. is going public. Coinbase, which allows investors to buy and sell various digital currencies such as bitcoin, has filed a draft registration statement for an initial public offering with the Securities and Exchange Commission, the company announced today on its blog. Are These “Toxic” Stocks Lurking in Your Portfolio? Coinbase, the largest crypto exchange in the U.S., filed its confidential S-1 form with the SEC to go public. Stock Advisor launched in February of 2002. Such proposed listing is expected to be pursuant to a registration statement on Form S-1 with … The bullish market for bitcoin has led some high-profile traders to suggest that one bitcoin could be worth as much as $250,000 or even $400,000 one day. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. ados.run.push(function() { Coinbase filed confidentially for IPO in late December. .setZone(136136); Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Motley Fool Returns Stock Advisor S&P 500 Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. And if you know about this stock right now, over the next 12 months, you can take part in the potential 37.84% gains…, if (location.search.indexOf("continueReading=1") >= 0) { jQuery(window).load(function() { jQuery(window).scrollTop(jQuery("#continueReading").offset().top - 35); });}, Join the conversation. Tom Gentile's Favorite Bitcoin Stock Trade Right Now, Just In: The 7 Best Stocks You've Never Heard Of. Now, that doesn't mean that the IPO is going to … Your email address will not be published. ados.run = ados.run || []; By Jack Delaney, Associate Editor, Money Morning • January 25, 2018. And even if it goes public, it might not be quite as good of an investment as it sounds. In that same time, the Dow Jones Industrial Average climbed just 11.71%. }); Choose from the topics below to receive our money-making recommendations in real time. In fact, some of our readers have already made a profit of 23.43% in the two months since our first report about this company came out on Nov. 27, 2017. site: MoneyMorning.com, Coinbase makes money by charging fees from investors making trades on the platform, so increased volume in trading benefits the company. Click here to jump to comments…. The IPO announcement comes as bitcoin is on its best run ever. 3 Events That Could Further Support Bank Stocks in 2021, Copyright, Trademark and Patent Information. That's why, today, we wanted to provide our readers with a backdoor crypto investing play through an established company that's been in business since 1999 and is worth $1.9 billion. Other institutional investors also view the digital currency as a potential hedge against inflation. But Coinbase is a private company, so you won't be able to buy Coinbase stock anytime soon.