Coinbase IPO on Wall Street: Unleashes the Tower of Babel

A great expectation has caused the IPO of Coinbase on Nasdaq this Wednesday 14. And it is that behind this there is more than an IPO of cryptocurrencies: it marks the beginning of a new era of the token economy and for humanity. And as in the confusion over the multiplicity of languages at the Tower of Babel, we are now witnessing

the multiplicity of currencies and tokens.

Legend has it that at a time when mankind shared the same way of conceiving currency and assets, it decided to install the financial center of the world in New York City. And began to erect a financial system with the intention of maintaining control of the world economy and reach the sky in a tower of cards. In this system controlled by a few, who wanted the tower to reach heaven, their ignorance and arrogance was so great that they wanted to be more than Yahweh. It was then that Satoshi Nakamoto manifested his great power and first sent them the Bitcoin as a first warning. It was a decentralized digital currency, whose protocol inspired a new financial system. After a while, this week several cryptocurrencies will start trading indirectly on Wall Street via Coinbase.

Despite the first warning, the same few but powerful deployed all their influence to prevent this new currency from being accepted by the world's financial authorities. They insisted on building this financial system built on a tower of cards, centralized, speculative and manipulated. And this week Coinbase arrives on Wall Street. When Coinbase begins trading on Nasdaq under the ticker COIN at the center of the financial Tower of Babel, it will be like the moment when the construction of the biblical tower was interrupted. It would be the beginning of a new era, with multiple cryptocurrencies, as when Yahweh unleashed his fury by confusing Mankind with different languages. He showed them that no one had more authority than he did. For reasons similar to what happened with GameStop, then, Coinbase is likely to be one of the pick stocks of Wall Street Bets on Reddit, pushing its price up.

Coinbase is an exchange that has become an exchange platform offering several cryptocurrencies native to its Blockchain, such as Bitcoin, Litecoin and Ether and tokens such as Orchid, Compound and Celo, among many others, that have been built on another Blockchain. During the first quarter of 2021, Coinbase has reached US$ 335 billion in trades and has kept 0.5% in commissions. Although as of today 96% of its revenue comes from this line of business, it also offers related services for both retail and institutional investors, such as saving and storing cryptoassets. Other products of this company include USD Coin, a digital stablecoin that allows customers to put U.S. dollars in exchange for a cryptocurrency that has the same value, but can be traded more quickly. Coinbase Card, a Visa debit card that allows customers to spend cryptocurrencies, and Coinbase Commerce, a payment service for merchants, are some of the additional services for individuals and merchants, respectively. Meanwhile, Coinbase Pro is a platform for trading a variety of digital assets.

According to estimates by New Constructs, an investment research firm, Coinbase shares would be worth only US$18.9 billion. But there is great anticipation for Coinbase's IPO, with its initial valuation expected to exceed US$100 billion, or perhaps higher than Facebook's US$104 million IPO in 2012. My prediction is that it will surpass it. Just as Facebook is an emblematic Big Tech that went from being a social network to a "digital nation", today Coinbase seeks to transform itself into a multiplatform that allows to facilitate access, exchange and storage of a number of languages - I am referring to protocols with different tokens deployed on Blockchain's that have their own cryptocurrencies - which is facilitated, through access to decentralized applications (dapps) that use various tokens.

Contrary to what The Economist points out, this IPO on Wall Street this week will be a victory for cryptocurrency purists. It will be a triumph, and so it has been demonstrated by Bitcoin's performance at the start of this week, which has surpassed US$60,000. My forecast is that this week Bitcoin will surpass US$65,000 and could brush US$70,000 in the coming days. Recall that in December 2020, Wall Street giant Citibank through CitiFXTechnicals revealed to its institutional investors that it estimates bitcoin could peak at US$ 318,000 in December 2021, calling it "the gold of the 21st century." Recently Bloomberg has gone even further, estimating that by the end of this year it would reach US$ 400,000 in the context of the adoption of bitcoin by PayPal, Visa, MasterCard, Tesla signals and, of course, the IPO of Coinbase, which in the future could be joined by other companies linked to the Crypto world. Similarly, Coinbase's IPO could also put upward pressure on altcoins, starting with Ether (from the Ethereum blockchain), which should reach US$ 6,000 in the medium term. Spanish version

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