Coinbase's growth has been quite impressive, especially considering the fact that the price of bitcoin has steadily declined for some time now. The company last raised a $25 million Series B financing at a valuation of $143 million in late 2013; that means it's more than tripled its valuation in just over a year. Going back to its $5 million Series A round raised in May 2013 ($22M val), Coinbase has achieved a spectacular 22x valuation step-up multiple in only a span of 20 months. While there have recently been some troubling signs for bitcoin, the huge investment in Coinbase proves that the industry is continuing to gain legitimacy.
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