Coinbase files US largest cryptocurrency exchange for IPO as bitcoin soars past $ 23,000

The Bitcoin course graph on the Coinbase cryptocurrency exchange application is seen on February 12, 2018.

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Digital currency exchange Coinbase is going public as renewed investor interest in cryptocurrencies has pushed bitcoin to its highest level ever.

On Thursday the company announced that it had confidently submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission. The form is expected to take effect after the SEC completes its review process.

Coinbase of California, founded in 2012, has been the starting point for buying and selling cryptocurrencies, and the company has grown to become the largest digital currency exchange in the US.

The company’s filing comes on the heels of a bitcoin price surge. On Thursday the largest cryptocurrency rose more than 12% to a top $ 23,000 for the first time ever, according to crypto market data provider Coin Metrics. The move came just days after the cryptocurrency hit the $ 20,000 mark for the first time.

With Thursday’s jump, bitcoin is now up more than 200% for the year. Bitcoin has attracted a lot of investor attention lately, and Paul Tudor Jones and Stanley Druckenmiller are among those who have come out in favor of the cryptocurrency. Big financial companies like PayPal and Fidelity have also moved in the space.

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