Coinbase listing boosts bitcoin above $64,000

    Despite people doubting how long the Bitcoin boom can last, there are more and more companies accepting bitcoin. The bulls of cryptocurrencies are making big moves one after another. Coinbase went public on Nasdaq on April 14, with a valuation of about $100 billion, which is also a strong sign of Wall Street’s increasing acceptance of cryptocurrency.

    Bitcoin continued to rise on Wednesday, surpassing the $64,000 level for the first time and its record high one day earlier. The market continued to be bullish on cryptocurrencies due to the listing of Coinbase Global Inc. Binance Coin has jumped to the third largest cryptocurrency after Bitcoin and Ethereum.

    The listing of Coinbase marked the first official link between traditional financial and cryptocurrency. Therefore, successfully joining the Nasdaq market is a recognition of cryptocurrencies from traditional investors.

    Goldman Sachs and Morgan Stanley have announced their plans to offer their clients tools to invest in cryptocurrencies. Tesla disclosed earlier this year that it invested $1.5 billion in bitcoin and recently started accepting bitcoin as a payment method for its electric vehicles.

    Skeptics, however, believe that the digital currency has been buoyed by the stimulations which have also pushed the stock market to record highs. Regulators around the world are stepping up oversight and questioning crypto’s usefulness as a currency.