In the midst of a bullish market, news about Coinbase’s listing on the traditional stock exchange, along with efforts by similar companies to be listed, could be timely.
“When the good times come, people want to go inside,” said Anthony Pompliano, co-founder of Morgan Creek Digital, in a episode of his YouTube show. “Meal allowance”. Pompliano’s answer It came after a question from its co-moderator, author and influencer Polina Marinova at the time of the Coinbase listing.
The traditional markets have been very positive lately. The SP 500, a barometer of general health in the mainstream market, is almost 42% above its March 2020 low, according to a recent Fortune article.
Coinbase appears to be preparing its official entrance to Wall Street
On July 9, details of the basis announced by Coinbase for an upcoming listing on the stock exchange became known. However, The U.S.-based exchange would be delivered to the Security and Exchange Commission (SEC) for approval.
“They are not necessarily listed on the stock exchange, they are examining the option or the possibility of doing so through a direct listing,” Pompliano explained, referring to details about which Reuters reported on this news.
Pompliano said the news This could mean that Coinbase will continue listing, or on the contrary, the company could simply “test the water”.
Movement would be a contemporary thing
Although Pompliano was unable to respond to the situation due to his investment in the company and his personal lack of details and confirmation, he noted the timing of the event. in response to the question raised by Marinova on the subject.
“Public markets are exploding,” Pompliano said and pointed to the current upward trend in the market, but also mentioned to other companies that are considering quotes in the current market atmosphere.
“Asset prices are literally reaching the moon through quantitative easing.” he said, referring to the government’s recent monetary activity.
The US government launched a $ 2 trillion stimulus package this spring to stabilize the weak economy ship after COVID-19 preventive measures caused business closures and numerous difficulties. New rumors of another upcoming incentive are also circulating.