Cryptocurrency is still kind of niche and a little confusing. The fact that it’s so beloved by eccentric tech billionaires doesn’t make it seem totally normal. But despite being developed as a decentralized alternative to government-created currencies, cryptocurrency is getting increasingly legit.
The cryptocurrency exchange Coinbase is going public Wednesday on the Nasdaq. PayPal is now allowing users to pay merchants with cryptocurrency. Visa will accept one type for payments. You can now use crypto to buy a Tesla or to send money on Signal. I spoke with Gil Luria, the director of research at D.A. Davidson. I asked him if we are in a moment with crypto. The following is an edited transcript of our conversation.
Gil Luria: The way I would define the moment is we’re in the convergence of finance of traditional finance, traditional business, with crypto. Crypto has really been on its own for a while, and there maybe hasn’t been a realization of how big a business it has become. And we are now witnessing the convergence of traditional finance and crypto. And it’s very symbolic that this week on Wednesday, Coinbase will list on the Nasdaq, and we will officially have a mega-cap company that all they