Nakamoto’s selling of bitcoins could destabilize market. Cryptocurrency exchange Coinbase, which filed an IPO last week, listed the mysterious creator of Bitcoin as a risk to the cryptocurrency market in its application documents..
For the cryptocurrency market, Tesla boss Elon Musk‘s statements have been described as a risk, while crypto exchange Coinbase, which filed for an IPO, has identified Satoshi Nakamoto, the mysterious creator of Bitcoin, as an element of risk.
In public filing documents, Bitcoin prices may decline if the mysterious creator is revealed. In addition, the documents also mentioned the possibility of Nakamoto divesting his Bitcoin portfolio, which is estimated to be worth more than 1 million, as an element of risk. There were also warnings that the mysterious creator’s removal of bitcoins in his hands could destabilize the market. Nakamoto’s Bitcoins account for 5 percent of the market.
Coinbase plans to go public
Coinbase Global Inc., Had filed an IPO application with the SEC.
In 2018, Coinbase emerged from a funding round led by Tiger Global Management with a valuation of more than $ 8 billion. The company, which started operations in 2012, had raised more than $ 500 million in funding in this round. Coinbase notes that it has more than 35 million approved users in more than 100 countries, and the amount of assets on its platform is over $ 25 billion.
MultiCoin Capital founder Kyle Samani said the IPO would be a “big event” for the industry. Samani, himself a Coinbase investor, said the IPO would “offer investors a way to invest in the crypto sector without investing in a specific asset.”