Pablo Soria de Lachica Analyzes the Implication of Coinbase IPO for Bitcoin and the Broader Cryptocurrency Market
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MEXICO CITY, Sept. 22, 2021 /PRNewswire/ -- When Coinbase became a publicly traded company in April 2021, the media hailed the direct listing on Nasdaq as a "pivotal," "watershed," "landmark," and "historic" moment for the digital assets market. By that point, the San Francisco-based cryptocurrency exchange had become the largest sector player in the United States and one of the biggest platforms in the world. "For an industry that has struggled for over a decade to secure legitimacy and appeal to mainstream investors, the Coinbase stock market listing signaled the potential start of a new era," says acclaimed forex broker Pablo Soria de Lachica. "After all, this is the company whose profound importance for the cryptocurrency ecosystem is reflected in the term the 'Coinbase effect,' which denotes a surge in the price of a digital asset upon its inclusion in the trading roster of Coinbase and other major cryptocurrency exchanges."
Pablo Soria de Lachica notes further, "The extreme volatility of the crypto market and the lack of meaningful regulatory oversight have so far kept digital assets on the sidelines, making them little more than a plaything for speculators. On the other hand, the tentative but growing interest of institutional investors and the emergence of crypto-related products – such as exchange-traded funds (ETFs), futures, and non-fungible tokens (NFTs) – are creating a momentum that Coinbase seems poised to build up. In a sign that the digital assets market aims to ascend to the next level, the company's stock market listing valued it at $86 billion at the end of its first trading day."
Among the most obvious and immediate implications of the Coinbase listing is the anticipated wave of initial public offerings (IPOs) from other cryptocurrency-related companies, Pablo Soria de Lachica says. Whether they choose the traditional IPO route or opt for a direct listing, as Coinbase did, this market debut is widely seen as paving the way for more crypto space operators to go public. Speaking to Fortune shortly after the listing, Santosh Rao, research head at merchant bank Manhattan Venture Partners, described the event as a "template that other companies will follow."
A day before the IPO, Perianne Boring, founder and president of the Chamber of Digital Commerce, offered an explanation for the excitement surrounding the Coinbase listing and its potential impact on the cryptocurrency market. In an interview for Bloomberg TV, she noted, "Coinbase represents the first blue-chip – so public pure crypto company – that will be an approved way to have direct exposure to Bitcoin. That's really what's driving all of the excitement about tomorrow's direct listing."
After graduating from Universidad Tecnologico de Mexico (UNITEC) with an MBA, Pablo Soria de Lachica proceeded to specialize in international trading, which helped him become of the foremost forex experts in the world. In addition to using his vast experience to maximize outcomes for his clients, he also devotes a significant portion of his time to developing and publishing educational content, sharing his expertise and insights through webinars, newsletters, and blog posts. Pablo Soria de Lachica is currently collaborating with Kartoshka - a company advancing the latest technological applications in sales, telemarketing, and customer support.
Pablo Soria de Lachica - Foreign Exchange Specialist: http://PabloSoriaDeLachicaNews.com
Pablo Soria de Lachica Comments on the Possibility of a New Financial Crisis due to Oil Collapse: https://news.yahoo.com/pablo-soria-lachica-comments-possibility-200000177.html
Pablo Soria de Lachica Shares Insights on the Longer-Term Impact of Current Oil Industry Shock on Energy Markets: https://news.yahoo.com/pablo-soria-lachica-shares-insights-023000826.html
SOURCE Pablo Soria de Lachica
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