Coinbase leaves message on blockchain after going public

Coinbase encoded a message today in the first Bitcoin block mined on the day of the public listing. This is a reference to a hidden message, [...] https://www.pinterest.com/pin/1085437947660215829/

Coinbase today encoded a message in the first Bitcoin block mined on the day of the public listing. This is a reference to a hidden message that the cryptocurrency's pseudonymous creator posted in the first block 12 years ago. Satoshi reference Today's message reads as follows: "NYTimes 10/Mar/21 House Gives Final Approval to Biden's $1.9T Pandemic Relief Bill." It refers to a New York Times article about the U.S. House of Representatives finally approving one of the largest economic stimulus measures in American history. Coinbase's message was encoded in a block by the F2Pool mining pool immediately after Coinbase (COIN) shares began trading on Nasdaq. Bitcoin blocks are mined - that is, processed by powerful computers to verify transactions. When the first ever Bitcoin block was mined, its creator(s), Satoshi Nakamoto, posted a message referring to a 2009 article published by the British newspaper The Times. The message read: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks". Both news items refer to large government spending - something that many investors believe will lead to a devaluation of fiat money (such as US dollars and British pounds) and will be positive for Bitcoin in the long run. Inflation hedge Why. Because Bitcoin is considered by some to be an inflation hedge. If the value of the dollar falls, Bitcoin can be a good alternative investment. This is because it cannot be devalued by the government producing more of it. Cryptocurrency exchange Coinbase went public yesterday, using a direct listing on Nasdaq. This means that ordinary people can now buy and sell shares of the company. This is big news both in the world of cryptocurrencies and in the world of finance more broadly. That's because it means that the industry is moving more and more into the mainstream. But while big government spending may lead more investors to hold Bitcoin instead of US dollars, will the same be true for Coin?   Tags stocks bitcoin coin coinbase exchange cryptocurrencies Nasdaq Quotation