Apr 14, 2021

Crypto firm Coinbase valued at more than oil giant BP

The price of Bitcoin surged more than 300% last year - and has climbed even higher in 2021 - as firms including Tesla, Mastercard and BlackRock unveiled plans to incorporate digital currencies into their businesses. Less well-known digital currencies have also made gains with Dogecoin, which was created as a joke, rising more than 70% to more than 13 cents. Founded in 2012, Coinbase had more than 56 million users across more than 100 countries and held some $223bn in users' assets at the end of March. The company's value has increased more than ten-fold since 2018 when investors reckoned it was worth $8bn in a private funding round. Last year, Coinbase's revenues hit $1.3bn, more than double that of 2019.

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