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You would think they would raise for BTC/Cryptos instead of USD via IPO. Really says a lot of their faith in Crypto's future.
by nojito 6y ago
You would think they would raise for BTC/Cryptos instead of USD via IPO.
Really says a lot of their faith in Crypto's future.
- unreal37 6y agoThat's a disingenuous argument. Just because you won't accept your salary in Euros, doesn't mean you don't have faith in the future of it.
- nojito 6y agoHow so? You would think the currency of the future would be liquid enough to provide capital for their growth no? Why resort to raising USD?
- PretzelPirate 6y agoCoinbase did a direct listing and didn’t raise money from this event. They provided liquidity for their shareholders.
- nojito 6y agoAgain why not do it BTC if it is indeed the future?
- PretzelPirate 6y agoThis is a direct listing. Sure they could open up a private market so their investors could sell for Bitcoin, but: 1. I bet most shareholders already have plenty of crypto and should diversify. 2. Opening up a private market for Bitcoin-only sales really doesn’t help liquidity much. It’s important to remember - this wasn’t a move for Coinbase to raise money, it was to enable people who have shares in Coinbase to be able to more easily sell.
- ericlewis 6y agoIt’s a cash out while they still can
- sowbug 6y agoThey're a bridge between USD and virtual currencies. They care a lot about USD's future as well.
- nojito 6y agoNope they just need capital to exit. Unfortunately there’s no liquidity in crypto hence why they want USD.