New numbers released Friday on the “About Coinbase” page show that the exchange now has more than $ 90 billion in assets on the platform. Also, it has an impressive number of more than 43 billion registered users.
Today, more than 43 million people, in more than 100 countries trust Coinbase. Specifically, to buy, sell, store, use and earn cryptocurrencies.
Indeed, the milestone user base includes both institutional and retail clients. By the way, the figure revealed in the middle of last year was 35 million.
In other words, Coinbase, the largest cryptocurrency exchange in the United States, has added an impressive amount of more than 8 million users in 6 months.
As a fun fact, the “About Coinbase” page has an interesting update. Which shows how far the company has come since it was formed in 2012.
Coinbase now has more than $ 90 billion in assets on the platform
True, the updated numbers were compiled as part of Coinbase’s 2020 summary. They are also valid as of December 31, 2020.
According to the report, assets under the control of Coinbase Custody accounted for “more than 50%” of the $ 90 billion total.
Institutions get involved
In this regard, Brian Foster of Institutional Coinbase, wrote in the cover letter of the report:
“In this report, we take you on a comprehensive tour of the crypto asset class. Sharing our unique perspective on how and why these institutions are engaging with the market.
By the way, Coinbase’s asset surge is likely driven by companies like MicroStrategy and Ruffer Investment Company. Also, from other institutions that have used the exchange’s main brokerage service. To make large purchases of Bitcoins, in recent months.
True, Goldman Sachs analyst Jeff Currie said: ‘The key to creating some kind of stability, and maturity in the market is to see an increase in the participation of institutional investors.».
Basically, the report also suggests that Coinbase has carried out one-off trade executions for up to $ 1 billion. For some of the largest institutional clients in the world.
Finally, according to the Coinbase page: «We anticipate that cryptocurrencies will be the future of money. And a catalyst to create an open financial system in the world».
I say goodbye with this phrase from Linus Torvalds: «I try never to make long-term predictions. So many things can happen that only make you look like a fool a few years later».