May 12 (UPI) – Coinbase Global Inc. will join the S&P 500 next week, the very first Crypto company to be included in the reference index, while the actions have skyrocketed in prolonged exchanges after the announcement of the decision on Monday.
The exchange of crypto based in San Francisco will replace Discover Financial Services on the S&P 500 next Monday, once Acquisition of Discover By Capitol, One Financial is finalized.
Coinbase actions, or corner on the Nasdaq, jumped 8% Trading after hours Monday at $ 225 per share after ending the regular 4%regular negotiation day.
Coinbase is the largest Bitcoin exchange in the United States. It was also the first major cryptocurrency company to be made public in 2021. Despite the drop in income, Coinbase managed to publish a profit for the last quarter, which is a requirement to make the S&P 500.
Coinbase’s announcement comes just a few days after Bitcoin exceeded $ 100,000 near its record price in January. Bitcoin increased by 10% this year, while Coinbase shares fell by 17%.
Coinbase recently announced its intention to buy Dubai Deribit, a great exchange of crypto derivatives, for $ 2.9 billion in the largest agreement in the cryptography industry.
Last week, Coinbase reported A net income of $ 65.6 million, or 24 cents per share. This is down $ 1.18 billion, or $ 4.40 per share a year earlier. Income increased 24% to $ 2.03 billion, compared to $ 1.64 billion a year ago.
The actions added to the S&P 500 generally increase in value. The index is strongly weighted with technology, in particular Dell, the manufacturer of super microcomputer artificial intelligence servers, the Crowdstrike and Defense Software Provider Palantant security software supplier.
Coinbase thanked on Monday that has thanked “all those who allowed a crypto company to join the S&P 500 for the first time in history”.
“First, they ignore you. Then they make fun of you,” Coinbase wrote in a post On X. “Then they fight you. Then they add you to the S&P 500.”
