Coinbase Shares Rise More Than 400% in 2023

Since its introduction to the American stock market in April 2021, Coinbase’s stock price has risen over 400%, outperforming the already impressive 160% increase in the value of Bitcoin since January 2023.

Coinbase is a leading crypto company and its shares are closely tied to the performance of digital currencies.

On a recent day, the price of one Coinbase share reached a high of $162. Many traders believe that the approval of an exchange-traded crypto fund (ETF) in the United States will open the door for both Bitcoin and Coinbase’s value to continue to rise.

In fact, Coinbase’s shares have outperformed all major digital currencies, with Ethereum only increasing by 85% in 2023.

The CEO of Coinbase, Brian Armstrong, has been vocal in his efforts to advocate for the blockchain industry and has called on US authorities to soften their policies towards cryptocurrencies.

He believes that the growing popularity of digital currencies in the country warrants the creation of a powerful lobbying organization to represent the industry’s interests in the government and Congress.