News of Coinbase’s price fits the conventional bull market, says Pomp

Posted by on 24. Juli 2020


 

In the midst of a rising market, news of Coinbase’s listing on the traditional stock market may be timely, along with the public listing efforts of similar companies.

„When good times come to the stock market, people want to get into them,“ Morgan Creek Digital co-founder Anthony Pompliano said in an episode of his YouTube show, „Lunch Money. Pompliano’s response came after a question from co-host, writer and influencer Polina Marinova about the timing of Coinbase’s listing.

Your passwords could be for sale on the Dark Web

Traditional markets have shown a lot of positivity lately. The S&P 500, a common health barometer of the conventional market, is almost 42% above its March 2020 low, according to a recent Fortune article.

Coinbase appears to be preparing its official entry into Wall Street
On July 9, details emerged about Coinbase’s informed basis for an upcoming stock market listing. However, the US-based exchange would be left to the Security and Exchange Commission, or SEC, for approval.

New York Court Rejects Bitfinex’s Appeal of $850 Million Loss

„They are not necessarily trading on the stock exchange, they are exploring the option or the opportunity to do so through a direct listing,“ explained Pompliano, referring to the details reported by Reuters‘ coverage of this news.

Pompliano said the news could mean that Coinbase will continue with the listing or, conversely, the entity could simply be „testing the waters.

The move would be timely

Although Pompliano was unable to go into detail about the situation due to his investment in the company, as well as his own personal lack of details and confirmation, he pointed out the nature of the possible timing of the event, in response to Marinova’s question on the subject.

„The public markets are exploding“, said Pompliano, pointing to the current upward trend in the market, while mentioning other entities that are considering quotes during the current market atmosphere.

Recently a record amount of Bitcoin was withdrawn from the exchanges
„Literally, asset prices are going to the moon through quantitative easing,“ he said, referring to recent government monetary activity.

The U.S. government put together a $2 trillion stimulus package this spring in an attempt to stabilize the struggling economic ship after VIC-19 prevention measures caused business closures and numerous difficulties. There are also new rumors circulating of another upcoming stimulus move.