I am keen to talk in this newsletter about non-obvious things that our subscribers will not have heard about, or considered through other sources. However, the IPO of Coinbase is worth a comment.
Firstly, because the company that Grandma, Grandad and Tesla use to buy crypto assets becoming a publicly listed company is significant.
Secondly, the valuation of Coinbase is larger than BP (formerly British Petroleum). Listening to Coinbase’s Chairman talk about the business being a vehicle for the digitisation of value, I laughed. Not because it doesn’t sound cool, but because the BBC journalist didn’t ask her what on earth the “digitisation of value” means.