Summary
Coinbase stock is surging alongside Bitcoin, reaching $279.65 per share, up 44% in the past month and 346% over the past year. The company reported a profit of $273.4 million in Q4 2023 and recently announced a private sale of $1 billion in convertible senior notes for institutional investors. The crypto market’s success is generally good news for Coinbase, but bullish surges have led to frequent outages. Bitcoin’s price is currently at $70,631, up nearly 8% in the past 24 hours and 60% since the start of the year.
Key Points
1. Coinbase stock is trading at $279.65 per share, the highest since November 2021, with a 44% increase in the past month and a 346% increase over the past year.
2. Coinbase went public in April 2021 and recently reported a profit of $273.4 million in Q4 2023, showing strong financial performance.
3. Good news for the crypto market generally benefits Coinbase, but bullish surges have caused frequent outages as the exchange struggles to keep its systems online.