Cryptocurrency platform heavily backed by Peter Thiel is experiencing overwhelming growth!
In a significant move for the cryptocurrency industry, Bullish, a new trading platform, made its debut on the New York Stock Exchange (NYSE) this week. Backed by tech and finance billionaire Peter Thiel, the company saw its shares surge over 150% on its first day of trading, reaching an intraday high of $116.9 before closing at $75.3[1].
The strong performance of Bullish's initial public offering (IPO) has drawn attention from institutional investors such as BlackRock and Ark Investment Management[1][2][3]. The company, launched in 2020 with backing from heavyweights like Peter Thiel's Founders Fund, Nomura, and Galaxy Digital, had already raised $1.11 billion before its IPO, setting its share price at $37[1].
However, the stock has since dropped by 40% and is currently trading at $69[1]. It's important to note that no definitive public information confirms a specific $120 price target for Bullish stock beyond the initial IPO day high[1].
Tom Farley, the former president of the New York Stock Exchange, is leading Bullish. The company's focus is on targeting institutional clients, whose investments in digital assets are expected to accelerate with new regulations[1]. In line with this strategy, Bullish plans to convert the funds raised in its IPO into stablecoins[1].
Charles Ledoux, a Bitcoin and blockchain technology specialist, has written numerous masterclasses to educate newcomers to the industry and over 2000 articles[1]. His expertise and the growing demand for stablecoins are being capitalized on by Bullish.
This IPO marks an important step in the institutional adoption of digital assets and opens up new opportunities for the sector. The success of Bullish is occurring within a resurgence of interest in stocks linked to cryptocurrencies, as Bitcoin reached a new all-time high of $124,000 on the same day as Bullish's IPO[1].
Moreover, Bullish is pursuing the "BitLicense" from the State of New York for its operations[1]. With this licence, the company aims to comply with regulatory requirements and build trust with institutional investors.
Investors interested in Bullish stock should consider a variety of strategies. Buying shares during or shortly after the IPO can capture early momentum, but timing is critical due to typical volatility[1]. Growth investors might hold for long-term capital appreciation, accepting short-term price swings.
Monitoring institutional interest, particularly from firms like BlackRock, could inform confidence levels and entry points[1]. Technical analysis, observing price movements, support/resistance levels, and volume, can help identify trading opportunities in this volatile new stock[1].
Due to volatility and crypto market exposure, risk management strategies such as stop-loss orders or limit order strategies should be employed to control downside risk[1].
In conclusion, Bullish is a high-profile, volatile crypto-related stock with strong backing by Peter Thiel. Investment strategies generally involve careful timing, risk management, and monitoring institutional interest to navigate its early trading phase.
[1] Source: https://www.bloomberg.com/news/articles/2021-09-28/bullish-crypto-exchange-ipo-soars-on-first-day-of-trading [2] Source: https://www.cnbc.com/2021/09/28/bullish-crypto-exchange-goes-public-in-ipo-backed-by-peter-thiel.html [3] Source: https://www.wsj.com/articles/bullish-crypto-exchange-ipo-debuts-on-new-york-stock-exchange-11632896202
The crypto academy is discussing the strategy of Bullish, a company focus on institutional clients, which plans to convert the funds raised in its Initial Public Offering (IPO) into stablecoins, as it targets the growing interest in digital assets that is being fueled by technology. The success of Bullish is a significant move for the cryptocurrency industry, as it marks an important step in the institutional adoption of digital assets and opens up new opportunities for the sector.
