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Bitcoin hits new all-time high above $63,000 ahead of Coinbase debut

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The Coinbase application for exchanging cryptocurrencies that appears on the screen of an iPhone.

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Bitcoin hit a new record high of more than $ 63,000 on Tuesday as investors awaited the highly anticipated debut of the Coinbase cryptocurrency exchange.

Bitcoin price soared to $ 63,236, according to data from Coin Metrics, before falling slightly to $ 62,877. It was last up around 5% in the past 24 hours. Ether, the second most important digital coin after Bitcoin, also set a new record, rising to $ 2,230.

Coinbase will go public on Wednesday via a direct listing that could value the company at up to $ 100 billion – more than major operators of trading venues like Intercontinental Exchange, owners of the New York Stock Exchange. Crypto investors are hailing the company’s public debut as a major milestone for the industry after years of skepticism from Wall Street and regulators.

“This is really good and very important to the industry,” Marcus Swanepoel, CEO and co-founder of the London-based cryptocurrency platform Luno, told CNBC. “It will increase trust and transparency in our industry.”

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Robert Dunfee