Uber IPO: Cryptocurrency Will Be a ‘Huge Beneficiary’

Uber Technologies Inc. expects a valuation of about USD 100 billion when listed on the New York Stock Exchange. Large IPOs such as Uber’s and others could bring spectacular benefits to the crypto industry. At the same time, business solutions allowing Uber users to pay with Bitcoin are now moving to center stage.


Uber IPO: Bigger Than Bitcoin’s Market Cap

On April 11, 2019, Uber filed with the U.S. Securities and Exchange Commission (SEC) to offer shares of its common stock. In its recently released prospectus, Uber does not mention the magnitude of the IPO, which could be one of the biggest ever.

However, according to The Financial Times,

The company is aiming to raise $10bn from its IPO and recently told some of its investors that it could be valued at $90bn to $100bn, according to people familiar with the matter. The company was last valued at $76bn in a private fundraising in August.

Thus, the estimated valuation would surpass today’s Bitcoin market capitalization of about $89 billion.

The transportation company…

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Source: https://thebitcoinnews.com/uber-ipo-cryptocurrency-will-be-a-huge-beneficiary/