Bitcoin surges to all-time high ahead of Coinbase listing


Bitcoin jumped to an all-time high as the mood in cryptocurrencies turned bullish ahead of Coinbase’s listing this week.The token rose as much as 5.5 per cent to $US63,246, exceeding the previous peak in March. Cryptocurrency-exposed stocks such as Riot Blockchain and Marathon Digital. also advanced.Crypto bulls are out in force as growing list of companies embrace bitcoin, even as sceptics doubt the durability of the boom. In one of the most potent signs of Wall Street’s growing acceptance of cryptocurrencies, Coinbase will list on the Nasdaq on April 14 at a valuation of about $US100 billion ($131 billion) .Coinbase’s debut “will mark the first official juncture between the traditional financial avenue and the alternative crypto path,” Ipek Ozkardeskaya, a senior analyst at Swissquote, wrote in a note. “As such, a successful addition to Nasdaq should act as endorsement of cryptocurrencies by traditional investors.”Goldman Sachs and Morgan Stanley have announced…

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