Blockchain.com IPO: When can you buy the crypto stock?

3 min read | August 31, 2021 07:52 PM AEST | By Raza Naqvi

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Blockchain.com IPO: When can you buy the crypto stock? — Image source: dencg, Shutterstock.com

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Highlights

Blockchain.com, a cryptocurrency blockchain explorer and cryptocurrency exchange, has revealed its plans to opt for a public debut.

com, which keeps Bitcoin and Ether on its balance sheet, could value over US$ 5.2 billion at the time of its public debut.

Since its inception in 2011, Blockchain.com has created 76 million wallets.

As cryptocurrencies emerge as an alternative form of investment, companies engaged in this space are exploring options to go public.

Coinbase, a cryptocurrency exchange platform, went public in April 2021, becoming one of the biggest initial public offerings (IPO) in the US this year.

Now Blockchain.com, a cryptocurrency blockchain explorer and cryptocurrency exchange has revealed that it could opt for a public debut. The announcement came from Macrina Kgil, Chief Financial Officer of the company who revealed that the cryptocurrency exchange platform has crossed 1 trillion transactions since the past decade.

Blockchain.com claims that it powers one-third of the total Bitcoin network transactions and has 31 million verified users. With a presence in over 200 countries, it has created 76 million wallets since its inception in 2011 and US$ 800 billion worth of transactions have happened on the exchange.

As Blockchain.com is one of the oldest companies exploring the cryptocurrency ecosystem, it is expected that its IPO could be even more significant in comparison to Coinbase's IPO.

Blockchain.com IPO: When can you buy the crypto stock?

What to expect from Blockchain.com IPO?

Amid cryptocurrency’s rising popularity, Blockchain.com IPO could attract investors as apart from providing crypto services, the company holds Bitcoin and Ether itself. Blockchain.com also reportedly holds a lot of altcoins.

Once the company opts for the IPO, investors will get to know what and how much it exactly holds.

Earlier in March this year, Blockchain.com was reportedly valued at around US$ 5.2 billion after it raised US$ 300 million in a funding round. As the crypto market is growing, Blockchain.com is likely to continue expanding its business operations and see exponential growth in the next few years.

Also Read: Automata is rising. What is the ATA crypto price prediction?

Blockchain.com’s IPO could happen in the next 18 months, and it is likely to trade on the Nasdaq Stock Market to compete with rival Coinbase.

Bottom Line

A Markets and Markets report notes that the cryptocurrency market is expected to expand at a compound annual growth rate of 7.1 per cent by 2026.

During this period, the value of the crypto industry is expected to increase from US$ 1.6 billion in 2021 to US$ 2.2 billion in 2026.

Also Read: Dromos crypto: Price prediction and everything to know about DRM token

This growth in the crypto industry could boost the prospects of cryptocurrency exchanges in the long run.

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