Rajarshi Mitra
Independent Analyst
- Digital Currency Group CEO Barry Silbert has predicted that there will be publicly-traded blockchain firms in 2020.
- Cryptocurrency companies might be part of this year’s boom of SPAC IPOs, added Silbert.
- SPACs are shell companies that raise money from IPO investors to invest in operating businesses later.
Barry Silbert, the CEO of Digital Currency Group (DCC), has predicted that there will be publicly-traded cryptocurrency companies in 2020. He said that special-purpose acquisition companies (SPACs) have been approaching him with merger pitches in a recent tweet.
SPAC pitches coming my way from every direction. Methinks we’re going to have some publicly traded crypto companies this year...
— Barry Silbert (@barrysilbert) July 25, 2020
SPACs are shell companies that raise money from IPO investors to invest in operating businesses later. While going through the usual IPO can take months, going public through a SPAC IPO is possible within just a few weeks.
Ripple CEO Brad Garlinghouse had made a similar prediction at the World Economic Forum in Davos in January. He claimed that there would be IPOs in the blockchain space and Ripple would lead that trend.
In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural evolution for our company.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Cardano Price Forecast: ADA bulls target double-digit gains as bullish bets increase among traders
Cardano (ADA) price hovers around $0.74 at the time of writing on Thursday after a recovery of over 4% so far this week. On-chain data hints at a bullish picture as ADA’s stablecoin market cap rises while its bullish bets increase among traders.
GameStop's plan to issue $1.3 billion convertible notes to buy Bitcoin could boost crypto market and meme coins
Video game retailer GameStop announced on Wednesday that it plans to issue senior convertible note offerings worth $1.3 billion. The company aims to use part of the proceeds from the offerings to buy Bitcoin.
Stablecoin mania kicks off as Wyoming and Fidelity join the race
According to Governor Mark Gordon, the state of Wyoming has joined the race for a stablecoin, following plans to launch WYST, a US Dollar-backed token in July.
Toncoin traders target $10B valuation as Elon Musk integrates Grok AI into Telegram
Toncoin price rose 3% on Wednesday despite crypto market inflows subsiding after a two-day rally.
Bitcoin: BTC stabilizes around $84,000 despite US SEC regularity clarity and Fed rate stability
Bitcoin price stabilizes around $84,000 at the time of writing on Friday after recovering nearly 2% so far this week. The recent announcement by the US SEC that Proof-of-Work mining rewards are not securities could boost BTC investors' confidence.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.