🔥Bullish makes its debut on the New York Stock Exchange!
The cryptocurrency platform Bullish, backed by PayPal co-founder Peter Thiel, has achieved an impressive debut on the New York Stock Exchange (NYSE). The initial public offering (IPO) exceeded expectations, raising $1.1 billion at a price of $37 per share, above the expected range of $32 to $33.
The company now has a valuation of $5.4 billion, establishing itself as a powerhouse in the crypto market. Its strategy of focusing on institutional investors and the acquisition of CoinDesk has contributed to its strong position.
The shares, with the symbol BLSH, experienced significant volatility on their first day of trading. They opened at $90, surged to $118, and closed at around $70, reaching a market capitalization close to $10 billion. Market optimism is partly due to the perception that the Trump administration favors cryptocurrency regulation and the steady growth of Bitcoin (BTC) and Ethereum (ETH). Trading volumes on Bullish have already surpassed $1.25 trillion.
The interest from major investment firms like BlackRock and ARK Invest, which invested $200 million in shares, underscores confidence in the company's future. With significant assets, including 24,000 BTC, 12,600 ETH, and $400 million in stablecoins, Bullish positions itself as a sector leader. This successful launch marks a key moment for the cryptocurrency market.
