#CryptoCurrency / As bitcoin passes $20,000 for first time, Coinbase files for public listing

Cryptocurrency exchange Coinbase has filed a draft registration document with the Securities and Exchange Commission over a public listing.

Coinbase’s submission comes as bitcoin hits a record high amid surging interest from institutional investors.

Founded in 2012, Coinbase has more than 35 million users in more than 100 countries.

The price of a single bitcoin currently stands at $23,000, driving a wave of investment in cryptocurrency markets. The excitement in the markets has led to heightened speculation over bitcoin’s likely trajectory.