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Jim Cramer on Coinbase: Buy at the Deal, Not First Trade

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Coinbase is going public.

The company confidentially submitted an S-1 filing for an initial public offering with the Securities and Exchange Commission (SEC). 

The form would become effective after the SEC completes its review process, Coinbase said in a blog posting. This came as bitcoin climbed to another record high Thursday, surpassing $23,600.

Per The Wall Street Journal, Coinbase was recently valued at around $8 billion and would become the largest publicly-traded cryptocurrency company in the world. 

WATCH: Everything Jim Cramer Is Watching in the Markets Friday 

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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