“That’s the nice thing about me: Bitcoin created a lot of wealth for people who weren’t part of the traditional financial system and weren’t money managers,” said Demirors, chief strategy officer at CoinShares, a digital asset investment firm.
She said she got into bitcoin when it was around $ 150 a coin. It hit another record high on Tuesday, Trade over $ 63,000 as investors waited for Coinbase to be listed directly.
The digital wallet’s public debut on Wednesday “will mark hundreds, if not thousands, of multimillionaires and billionaires, all of whom love crypto and are likely to take some of their listing proceeds and continue to invest in the crypto ecosystem,” Demirors said.
“There really is this nice recursive effect that this industry is not just about assets. It’s really about the companies now that we’ve been investing in for almost a decade,” she added.
Indeed, Soona AmhazAccording to Coinbase, a general partner of crypto venture company Volt Capital, Coinbase’s direct listing is by no means the only exciting development for digital assets.
“The crypto story doesn’t end with Coinbase going public,” she said on CNBCs “Close the bell.” “This is an important requirement for building crypto businesses.”
Some believe Coinbase could score a valuation as high as $ 100 billion. While such a market cap would be hugely important to the crypto industry, according to Amhaz, it is more important to keep growing the number of people who own digital assets around the world.
“We will see more crypto companies building to convert the next 100 million users to crypto and face this new financial paradigm,” she said.
Bitcoin was created in 2009 and is the world’s largest cryptocurrency by market value. The price has risen particularly high in recent months. Bitcoin was still being traded in October under $ 11,000 per coin.
A key factor in the increase was further institutional takeover. Some companies, such as Tesla, bought Bitcoin with cash on the balance sheet.
Last month, Morgan Stanley was the first major US bank to announce this Provide access to bitcoin funds for its wealth management clients. Another Wall Street Titan Goldman Sachs, is also expects to take similar steps for clients of his private asset management group.