Worried About Inflation? This Coinbase Innovation Could Be a Game Changer
Coinbase Global (NASDAQ: COIN) might be one of the most polarizing names in the crypto industry. After a much-hyped initial public offering (IPO) in 2021 saw the company valued at $85 billion after the first day of trading, Coinbase is now valued at a paltry $16 billion. Even Coinbase critics, however, must admit that the world's second-largest cryptocurrency exchange has been remarkably innovative in bringing new products to market.
And now Coinbase is working on an innovation it thinks could be the Holy Grail for crypto investors: a new coin that keeps pace with the rate of inflation. If Coinbase manages to pull this off, it could be a game-changer.
Traditionally, Bitcoin (CRYPTO: BTC) has been the crypto investors have turned to as a hedge against inflation. The total lifetime supply of Bitcoin is capped at 21 million coins, specifically to protect Bitcoin from the tendency of governments to print more money whenever they need to.
Source Fool.com
Coinbase Global Inc. Stock
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