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The actions of Coinbase Global Inc. (NASDAQ:) rose more than 6% before the stock market opened on Monday, reflecting the continued rise in the value of the .
The rise in Coinbase’s stock value occurred at the same time as the exchange rate between bitcoin and the US dollar surpassed the $71,000 threshold, setting a new all-time high for the digital currency. The value of bitcoin reached $71,837. It is currently valued at $71,615, representing an increase of approximately 3.75% during the day, indicating a strong upward trend in the digital currency market. Right now, Coinbase stock is valued at $274, representing an increase of 6.77%.
The growth in Coinbase’s stock value, as well as bitcoin reaching unprecedented values, demonstrates investors’ renewed interest in digital currencies, particularly following the launch of exchange-traded funds (ETFs). for bitcoin in the United States.
The expansion of the digital currency market was also boosted on Monday by the UK’s Financial Conduct Authority’s announcement that it will not oppose requests from Recognized Investment Exchanges to establish a market segment based in the Kingdom -United for Exchange Traded Notes (ETNs) backed by digital currency assets.
Additionally, the London Stock Exchange announced that it is ready to consider applications for ETNs based on Bitcoin and Ethereum starting in the second quarter of the current year.
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