Is Crypto Dead? Coinbase Has A Message For Skeptics As It Turns 10

Major crypto exchange Coinbase Global Inc COIN/USD released a new ad targeted at doubters of the cryptocurrency industry.

What Happened: “Long live crypto,” said Coinbase in its latest advertisement that is being broadcast across national television to commemorate the exchange’s tenth anniversary.

The ad features tweets from multiple users across the years claiming that “Crypto is dead.”

History shows that cryptocurrency markets have rallied significantly after every major crash, invalidating any calls for the end of the industry, a point Coinbase is trying to make with its latest video.

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The earliest tweet in the video stating that the industry is dead is dated August 18, 2012, when the price of a single Bitcoin BTC/USD was a mere $8.

Bitcoin went on to rally over 862,000% over the years and hit an all-time high of $68,789 in November 2021. The leading digital asset is currently trading 56% lower than its all-time high at $30,133 – but if the previous years are any indicator, crypto is far from dead.

See Also: Coinbase Plans To Slow Hiring Amid Crypto Market Downturn

Price Action: According to data from Benzinga Pro, Coinbase shares traded 2.17% higher during the after-market session.