Chamath Palihapitiya says the 7 billion dollar infertility means “genius” to buy Coinbase, and here is the reason – Usdata (OTC: USDC)
Technology investor Chamath Palihapitiya I suggested this Wednesday ripple Laboratories or Coinbase Global Inc. currency acquisition Circle Internet Financial It will be a “genius” step, given the potential value of the Stablecoin Market.
What happenedPalihapitya stated in the X publication that the circle, the second largest source of Stablecoin in the world US dollar currency USDC/USDThe valuable acquisition of the leading cryptocurrency companies can be.
It was believed that Circle, which is excessive in the 25x subscription in its initial general introduction and is estimated at about $ 7 billion, could deserve much more in the future. “If someone can buy it until it ranges between 12 to 13 billion dollars, this is the theft, IMO, for what this work could deserve in 20 years,” he added.
Coinbase and Ripple did not immediately request Benzinga to comment on this proposal.
Palihapitiya also predicted a competition for Stablecoin’s dominance tapeand square (now Block, Inc. XyzRipple, and Coinbase.
Disclosure: 82 % of CFD retail accounts lose money
He added: “The company that builds the most efficient infrastructure and sells it in the cheapest: it is possible that the excessive cost (with a high margin at the top) will take this market.”
Why do it matterPalhaPITIYA’s note comes after CIRCE pricing public subscription at a price of $ 31 per share, higher than the previously marketed range from $ 27 to $ 28 per share. The company will now offer 34 million shares for $ 31 each when it appears for the first time on the New York Stock Exchange on Thursday under the title “CRCL”, which raised about $ 1.05 billion.
Circle will finally appear in public after a failed attempt in 2021. The 2021 SPAC deal was abandoned due to the organizational delay and the market disturbance caused by the collapse FTX.
Circle will join other arrows related to cryptocurrency such as Coinbase and Block on Wall Street. Payment Benzinga Edge shares A degree to see how these shares arranged in different standards such as momentum, growth and quality.
Compliment: Cathy Hatchens on Shutterstock.com
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Slip: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
