as a Bitcoin It goes up More than $70,000 was returned per coin, another crypto investment is roaring alongside: Coinbase stock. Publicly traded shares of the exchange (Coin: NASDAQ) are trading at $279.65 a pop—the highest since the November 2021 peak of the last crypto bull run.
The company's stock price has risen 44% in the past month, according to Nasdaq data. Zooming in further, the results are even more impressive: COIN is up 346% over last year.
San Francisco-based Coinbase It was officially released In April 2021, the stock was seen at $381, but since 2022, it has traded below $200 per share, thanks to a crypto bear market.
But the company, America's largest crypto exchange, was on the move. Last month, it released its Q4 2023 results and reported a return to the black, posting a profit of $273.4 million.
Coinbase is a well-known company that provides custody and other services to Bitcoin issuers everywhere, including Wall Street heavyweight BlackRock.
At the beginning of this month, the company announced Private sale of $1 billion of convertible senior notes to institutional investors.
Good news for the crypto market is generally good news for Coinbase, though. Bullying has resulted in frequent outages. As the exchange struggles to keep its systems online.
The price of Bitcoin It is currently at $70,631, according to CoinGecko, which has increased by about 8% in the last 24 hours. On March 14, the largest digital currency hit a new all-time high of $73,737.
The asset is up 60% since the start of the year, when it traded below $45,000 a penny.
Edited by Ryan Ozawa.
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