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With its shiny new $8 billion valuation, Coinbase is now worth more than all but the top three cryptocurrencies that trade on the platform.
That’s right, the only cryptocurrency assets that are worth more than the platform that trades them are Bitcoin, Ethereum and Ripple. Bitcoin Cash, the currency forked from Bitcoin, is a distant fourth in valuation at $7.3 billion.
Coinbase - Series - E - Times - Company
Coinbase’s Series E is nearly three times as much as the company raised in its Series D, and the fresh cash brings Coinbase’s total-capital-raised-to-date to over $520 million.
That’s a lot of money. Indeed, if Coinbase’s capital raised figured is compared to the market cap of the world’s various cryptocurrencies and other similar assets, it would rank around 20th.
Bet - Investors - Cryptocurrencies - Idea - Ways
But the bet for investors is, and should be, that if cryptocurrencies are indeed the next big idea in the ways that humans determine value, then Coinbase should be worth far more than any of the assets that trade on its exchange.
The fact that it’s neither indicates how much farther the company has to grow, or the limits of the thesis that cryptocurrencies will take over the world.
Wager - Crypto - Company
It shows that the wager on a particular crypto company is looking like a better...
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