The cryptocurrency exchange Coinbase, which applied for an IPO last week, announced in the application documents that the mysterious creator of Bitcoin will be a risk to the crypto money market.
While Tesla boss Elon Musk‘s statements for the cryptocurrency market were identified as a risk, the crypto exchange Coinbase, which applied for the public offering, identified Satoshi Nakamoto, the mysterious creator of Bitcoin, as a risk factor.
It was predicted that Bitcoin prices could decline if the mysterious creator appeared in the application documents published for the public. In addition, in the documents, the possibility of Nakamoto’s disposing of his Bitcoin portfolio, which is estimated to be over 1 million, was also stated as a risk factor. There was also a warning that the mysterious creator’s removal of Bitcoins could destabilize the market. It is calculated that Nakamoto’s Bitcoins make up 5 percent of the market.
Coinbase plans to go public
Coinbase exited the funding round led by Tiger Global Management in 2018 with a valuation of more than $ 8 billion. The company, which started operations in 2012, had raised more than $ 500 million in this tour. Coinbase states that it has over 35 million approved users in more than 100 countries and that the amount of assets on its platform is over $ 25 billion.
MultiCoin Capital founder Kyle Samani stated that the IPO will be a “big event” for the industry. Samani, who is also a Coinbase investor, noted that the IPO “will offer investors a way to invest in the crypto industry without investing in a specific asset.”