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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 rose to a new record high of more than $ 63,000 on Tuesday as investors waited for the highly anticipated debut of the Coinbase cryptocurrency exchange.

The price of Bitcoin rose 5% to $ 63,171 in the past 24 hours, before falling slightly to $ 62,653, according to Coin Metrics. etherThe second most important digital coin after Bitcoin also set a new record, rising to $ 2,222.

Coinbase is go public on Wednesday through a direct listing that could value the company at up to $ 100 billion – more than large trading venue operators like Intercontinental exchange, Owner 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