BITCOIN advanced yesterday, breaching the US$64,000 level for the first time after eclipsing its most recent record in March a day earlier as the mood in cryptocurrencies turned bullish ahead of Coinbase Global Inc.’s listing this week.

The token climbed 1.6 percent to as high as US$64,207 in Asia trading. Cryptocurrency-exposed stocks such as Riot Blockchain Inc. and Marathon Digital Holdings Inc. advanced during U.S. trading hours.

Crypto bulls are out in force as a growing list of companies embrace Bitcoin, even as skeptics doubt the durability of the boom.

In one of the most potent signs of Wall Street’s growing acceptance of cryptocurrencies, Coinbase will list on the Nasdaq today at a valuation of about US$100 billion.

Coinbase’s debut “will mark the first official juncture between the traditional financial avenue and the alternative crypto path,” said Ipek Ozkardeskaya, a senior analyst at Swissquote.

“As such, a successful addition to Nasdaq should act as endorsement of cryptocurrencies by traditional investors.” (SD-Agencies)