Coinbase Global (COIN) Stock Plunges 1%: There May Be Many New Bitcoin Millionaires

Coinbase Global provides financial infrastructure and technology for the crypto economy. It offers a mainstream financial account in crypto-economic for retail users, a marketplace with a pool of liquidity for operations with crypto assets for institutions, as well as technologies and services that enable ecosystem partners to build crypto-based applications. COIN closed at $ 227.48 during the trading session on Thursday, up 0.98% from the previous day.

Heading into today, the stock of the company had gained 2% over the past week. The price fell to its lowest price on Wednesday $ 225.09, after three days of stability. Today it has risen sharply by 3% from $227,48 to $234,55. It has a market cap of 59.577B and a trading volume of 453,526.

The Japanese bankruptcy case will conclude next month where $ 6 billion worth of bitcoins (BTC) can be distributed to thousands of recipients around the world. Mt. Gox bitcoin exchange’s resolution insolvency case could create many new Bitcoin millionaires. This is because many of the 36,800 Mt. Gox obligees who have been waiting for refunds for nearly ten years have claims for payments in the hundreds or thousands of bitcoins.