Venture capital firm Evolution VC Partners founder Gregg Smith has said the listing of crypto exchange Coinbase on Nasdaq would propel bitcoin’s popularity to a household name.
Speaking to Fox Business, Smith pointed out that the listing is already impacting the bitcoin price, with the asset hitting a new all-time high of above $64,800 on Wednesday, April 14.
Smith added that listing would act as a catalyst to the overall growth in the crypto market‘s value as the digital asset becomes part of any portfolio.
Picks for you
“We will overhear spouses turning to one another and saying, honey, do we own any of this crypto stuff? And maybe we should buy some. So to begin to mark what people believe is that crypto should be part of a construct of a modern-day portfolio. So it’s going to popularize that and put it into the forefront,” said Smith.
Before going public, Nasdaq had allocated Coinbase a reference price of $250, but the shares opened at $381 with a valuation of $99.6 billion for the exchange.
More projection in Coinbase’s impact on crypto sector growth
Smith’s sentiments are also shared by American venture capitalist and early Coinbase investor Ron Conway who says the listing will make digital assets “the next multi-trillion dollar opportunity in innovation.”
He acknowledged that the crypto sector is still in its infancy stage, but the growth is rapid and cannot be ignored.
“I absolutely believe that Coinbase is the Google for the crypto economy and opens this huge opportunity to consumers,” Conway said.
Nikil Viswanathan, the CEO of blockchain developer platform Alchemy, also shared the bullish projection from the Coinbase listing.
According to Viswanathan, the listing will push blockchain technology into the mainstream arena. He believes that the listing will give legitimacy to the industry.
Coinbase is trading under the COIN ticker with a listing of 114,850,769 shares. Coinbase went public by posting shares directly on Nasdaq, avoiding the traditional Initial Public Offering route.
Watch the video: Coinbase IPO will make bitcoin a household name: Tech investment expert
