Nasdaq unveils coinbase reference stock price of ‘250 dollars’

As for the reference stock price of Coinbase, the U.S. cryptocurrency exchange, where the stock is scheduled to be listed, the listed company NASDAQ disclosed the figures. Coinpost reported on the 14th.

According to the official NASDAQ publication, the reference stock price is $250 per share. The reference stock price is a figure calculated based on factors such as corporate data and market temperature sensations disclosed by Coinbase, and tends to be a conservative price in general. Nasdaq also explained that “this reference stock is not a public offering price, nor is it already being traded at this price,” and “the actual price will be determined at the start of the transaction.”

If so, what is the purpose of the reference stock price? It is a standard that is mainly used by market makers, and is usually the number determined by Nasdaq in consultation with the financial advisors of listed companies. In the case of Coinbase, its financial advisor is Goldman Sachs, a large investment bank.

Also, the last transaction price of the private market before listing is also taken as a reference. Until Coinbase was listed, it was traded on the NASDAQ private market at a price of about $343.5. There is some difference from the reference stock price of $250. The cryptocurrency derivatives exchange FTX trades for more than $600, but this is also a limited market, so it seems that there is a high possibility that it will not reflect the actual situation.

[Intellectual opinion]

Coinbase listing is drawing attention not only in the cryptocurrency industry but also in Wall Street Finance as it is the first case as a cryptocurrency exchange.

Bloomberg senior commodity strategist Mike McGlone predicts that the coinbase listing will help Bitcoin (BTC) rise to $70,000. “Like Tesla’s news of buying bitcoin, it can have a big impact on the market,” he said.

In addition, CNBC Financial Program’s host Jim Cramer predicts the future of Coinbase, saying, “Even if the market cap is $100 billion, we will buy it. This is because more companies, including MicroStrategy, are also advancing into cryptocurrency.”

“John Street Capital” analyzes the financial report recently released by Coinbase. It is pointed out that it is a company that is larger than Cash App or Venmo’s user base and is already bringing big profits.

[100 weeks to be paid to all Coinbase employees]

Meanwhile, Coinbase plans to pay 100 shares each to 1,700 employees. This is equivalent to about $25,000 (about 28 million won) according to the NASDAQ reference stock price ($250).

(A number of times are publicly available on April 14th, during the time of the year.)

※ All posts in Coincode, a simple personal blog, are paraphrased & referenced from overseas news, not Coincode’s opinions. Coin codes are not based on facts! There’s nothing more than a reference (just filter it out). For quick news, use each coin’s Twitter!

[Coincode (coincode.kr), if you share, please leave the source. ]

The post Nasdaq coin price reference base public ‘dollars 250 “ appeared on FIRST coin code .

FINTECHPOST