The Bitcoin Exchange of America is poised to go public on the Nasdaq, a key milestone in the Bitcoin market’s rapid growth.
The company, which was founded by venture capitalists Marc Andreessen and Peter Thiel, is also expected to offer its own cryptocurrency, Bitcoin Cash, which is designed to be a cheaper alternative to Bitcoin, a cryptocurrency that has soared since its emergence as the currency of choice for the underground Internet marketplace Silk Road.
Investors were excited to hear the news, but the company is not the only bitcoin exchange in the pipeline.
Last week, Coinbase announced plans to launch a bitcoin futures contract, a major step in a larger effort to bring the Bitcoin technology to the mainstream.
While the new bitcoin exchange may not be the most exciting thing in the world, it’s the latest example of bitcoin’s growing acceptance.
The digital currency, which can be bought with dollars, bitcoins and other cryptocurrencies, has gained traction in the past two years as a way to move money across borders.
And with its popularity, there is a growing demand for bitcoin trading platforms to compete with traditional exchanges and payment processors, said Mark Siegel, chief investment officer at First Round Capital.
“The ability to buy and sell bitcoin and other digital currencies is going to be an exciting new frontier for businesses and people who want to buy, sell and trade,” he said.
The Nasdaq is a relatively small market for the cryptocurrency exchange, which only has about 20 million listings.
Its market capitalization stands at about $8 billion.
The new company will be a major boost for a company that was not supposed to happen, but that is slowly building an ecosystem of bitcoin exchanges.
It will allow investors to make direct trades in bitcoins, but it will also allow for bitcoin users to create digital wallets that can be used to trade and store money.
The companies plans will allow for more transparency in how people can buy and use bitcoin, and for merchants to accept the cryptocurrency.
For the new company, the launch will allow it to expand its offerings and broaden its customer base.
“This is a significant milestone in our business,” Andreessen said in a statement.
“It marks a significant shift in how the bitcoin market will evolve, and the opportunities for us to grow are exciting.”
Bitcoin has gained in popularity and value over the past year as the technology of payments has taken hold.
The Bitcoin Price Index (BPI), which measures the value of a bitcoin against a basket of other currencies, reached a high of more than $1,200 per bitcoin on Monday.
The index has been in a steady rise since the beginning of 2016, rising by more than 50% during that time.
Last week, the U.S. Department of Justice filed a lawsuit against the Bitcoin Exchange and Marketplace, alleging it is a money laundering operation and encouraging people to buy illegal drugs.
The suit also accused the exchange of misleading consumers and investors.