Coinbase Global Inc. reached a historic market capitalization of $100 billion on Monday, driven by Bitcoin's rise to new all-time highs and growing institutional confidence in cryptocurrency markets.
The Nasdaq-listed shares closed at a record price of $394.01, up 1.8% on the session, after reaching an intraday high of $398.50.
This milestone caps an impressive 50% monthly rise, driven by Circle's successful IPO and favorable regulatory developments in the United States.
Since joining the S&P 500 in May as the index's first company dedicated exclusively to cryptocurrencies, Coinbase has drawn bullish comparisons from analysts.