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CoinShares chief strategy officer Meltem Demirors says the Coinbase IPO will likely drive a new cycle of investment in the crypto ecosystem.
In a conversation on CNBC’s Squawk Box, Demirors says her outlook is bullish in a big way.
“The Coinbase IPO is going to mint hundreds, if not thousands, of multimillionaires and billionaires who all love crypto and are probably going to take some of their listing proceeds and continue to invest in the crypto ecosystem.
There’s really this nice recursive effect where this industry isn’t just about the assets. It’s now really about the companies, which we’ve been investing in for almost a decade now.”
Demirors says she’s looking to see if Coinbase’s valuation can reach $147 billion in the short term, which would equal that of Goldman Sachs.
She says Bitcoin’s rapid upward trajectory is creating a new kind of investor.
“Here’s what’s great about it for me: Bitcoin has created a lot of wealth for people who weren’t part of the traditional financial system – weren’t money managers.”
Demirors says she bought her first Bitcoin at about $150 per coin. On Tuesday, it hit yet another record high, trading above $63,000.