Bitcoin (BTC) exchange Coinbase unprecedentedly popular with investors, collecting not 1.5 but 2 billion dollars!
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Yesterday, the press reported that Bitcoin (BTC) exchange Coinbase plans to raise $1.5 billion from investors. The stock market proved to be very popular with investors. Coinbase has indeed earned much more than the planned $1.5 billion!

According to an article by Bloomberg, no less than $7 billion in orders have been received. This allowed Coinbase to increase its original target from $1.5 billion to $2 billion. Investors received so-called junk bonds for their invested money, i.e. bonds for which they receive interest.

These are bonds with maturities of seven and 10 years. That the demand for these bonds is so great at a crypto company is a good sign. Bloomberg notes that this “shows that cryptocurrencies are no longer reserved for venture capital.” According to the media platform, hedge funds and pension funds also participated in the round.

Coinbase will invest the money raised in the further expansion of its services. Coinbase is a big player in crypto trading,“but it wants to do more to diversify beyond that, which can be a volatile business,” said Julie Chariell of Bloomberg Intelligence.

One of the areas the exchange wants to expand into is the world of decentralized finance (DeFi). For example, she wants to set up a credit service. This service, simply called “Lend,” allows certain Coinbase customers to earn interest (4% per year) by borrowing their USD Coin (USDC) stablecoins. However, the US regulator now seems to be putting a stop to this.

Coinbase is not the first company to issue such bonds in the United States. MicroStrategy had preceded the company when it raised $500 million in June. These proceeds were then invested in Bitcoin. The company now owns more than 100,000 bitcoins, making it the largest bitcoin owner among listed companies.

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