tl;dr
As Bitcoin surges back above $70,000 per coin, Coinbase stock is also experiencing a significant increase, trading at $279.65 per share, the highest since November 2021. The company's stock price has jumped 44% in the past month and is up 346% over the past year. Coinbase reported a profit of $273.4...
As Bitcoin surges back above $70,000 per coin, Coinbase stock is also experiencing a significant increase, trading at $279.65 per share, the highest since November 2021. The company's stock price has jumped 44% in the past month and is up 346% over the past year. Coinbase reported a profit of $273.4 million in Q4 2023 and announced a private sale of $1 billion in convertible senior notes for institutional investors. Additionally, Bitcoin's price currently stands at $70,631, up nearly 8% in the past 24 hours and up 60% from the start of the year.
As Bitcoin soars back above $70,000 per coin, another crypto investment is roaring alongside it: Coinbase stock. Over the past month, the company’s stock price has jumped by 44%, Nasdaq data shows. Zooming out further, the results are even more impressive: COIN is up 346% over the past year. Last month, it dropped its Q4 2023 results, showing that it was back in the black, reporting a profit of $273.4 million. Coinbase is a prominent company that provides custody and other services to nearly all the spot Bitcoin issuers, including Wall Street heavyweight BlackRock. Earlier this month, the company announced the private sale of $1 billion in convertible senior notes for institutional investors. Good news for the crypto market is generally good news for Coinbase, although bullish surges have led to frequent outages as the exchange struggles to keep its systems online. Bitcoin’s price currently stands at $70,631, according to CoinGecko, up nearly 8% in the past 24 hours. On March 14, the biggest digital currency hit a new all-time high of $73,737. The asset is also up 60% from the start of the year, when it was trading below $45,000 per coin.
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