Did the people who invested in Coinbase have any idea how much $100B really is compared to well-established and profitable companies worth a fraction of this? The stock market has been a fantasy market for a while. I only wonder hong long can this nonsense continue.
Title has since changed to "Coinbase drops below debut price after hitting public market at $100 billion valuation"<p>Edit: now it's over 100B again
If Coinbase starts getting included in broad market ETFs, leading to significant holdings in mutual funds and retirement accounts, it will greatly de-risk the chance of US gov killing bitcoin: nuking grandma's investments is political suicide.<p>I think we just witnessed a significant step in the process of bitcoin becoming too big to fail.