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Coinbase is unlike any market debut Wall Street has ever seen – CNBC

Coinbase’s rich valuation is tied to bitcoin and ethereum prices, which are inherently volatile. But long-term bulls are betting on the ‘cryptoeconomy’.



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Brian Armstrong, co-founder and chief executive officer of Coinbase Inc.
Coinbase is poised to command an astronomical valuation when the digital currency exchange goes public on Wednesday. But ask 10 market experts how the company shouldbevalued and you’ll likely get 10 answers.
That’s because Coinbase’s current business the one that produced a whopping $1.8 billion of estimated revenue in the first quarter and up to $800 million in net income is built almost entirely on the performance of bitcoin…

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