Meltem Demirörs, Chief Strategy Officer of CoinShares, spoke about the valuation of Coinbase in the Squawk Box program, in which she participated.
Demirörs stated that Coinbase has reached 147 billion dollars in private markets and therefore expects the value of Coinbase to exceed 90 billion dollars in exchanges. This figure, which Demirörs expects, may surpass Goldman Sachs’ market value of 113.79 billion dollars.
Coinbase Is Bigger Than Goldman Sachs
Coinshares CSO Meltem Demirörs made statements about the direct listing of Coinbase on the Squawk Box.
Previously, companies such as Roblox, Spotify, Slack and Palantir were listed directly on the New York Stock Exchange. Coinbase’s valuation for direct listing totals at $ 90 billion. This value of Coinbase is far ahead of Roblox, Spotify, Slack and Palantir.
Coinbase shares have been traded on private markets so far. According to the data shared by Demirörs, Coinbase’s valuation on OTC platforms currently stands at $ 147 billion. For this reason, Demirörs thinks that Coinbase will be worth over $ 90 billion at the weekend. Thus, Goldman Sachs can be left behind.
Coinbase’s shares will be traded on the Nasdaq under the COIN acronym. Direct listing, unlike an IPO, shares begin to be traded without a predetermined price. After direct listing, the share value is determined depending on the supply and demand of the stocks.