It Crashed for the Right Reasons: Coinbase Surges 3.5% as Investors Cheer Ad
Super Bowl advertising brought some of the biggest and most influential cryptocurrency brands into the living rooms of an estimated 91.6 million Americans on Sunday. Among the companies that paid an estimated $14 million for a 60-second spot was Coinbase (NASDAQ: COIN), and as of 12:45 p.m. ET Monday, it was trading up 3.5% from Friday's closing price.
This popular cryptocurrency exchange's commercial featured nothing but a QR code bouncing around the screen for almost the entirety of the ad. Those who scanned it were taken to the Coinbase website/app, where potential new users were offered $15 in free Bitcoin for signing up, and an entry into a $3 million giveaway. The traffic this ad generated caused an outage of the Coinbase app, reflecting the impressive interest it generated.
Image source: GETTY IMAGES.
Source Fool.com
