Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
What Happened? On this day in 1995, Netscape went public at $28 per share.
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Where The Market Was: The Dow Jones Industrial Average closed at 4,671.49 and the S&P 500 traded at 559.71.
What Else Was Going On In The World? In 1995, Barings Bank, the oldest investment bank in the UK, collapsed after the bank lost $1.4 billion on speculative trades in the Tokyo market. The World Trade Organization was created. A loaf of bread cost $2.02.
Beginnings Of The Dot Com Bubble: Roughly a year after the company was founded, Netscape held its IPO in August 1995, and some see the excitement surrounding the IPO as one of the earliest indicators of dot-com mania.
Without the company demonstrating even a hint of profitability, Netscape stock skyrocketed as high as $74.75 per share on its first day of trading before finishing the day at $58.25. The closing price valued the web browser at around $3 billion.
By the end of 1995, Netscape shares traded at $174.
Netscape’s web browser market share peaked at around 80% in 1996, when Microsoft Corporation's (NASDAQ:MSFT) Internet Explorer soon began eating into that share.
In 1999, AOL acquired Netscape during the height of the bubble in a deal valuing the company at $10 billion. At the time, Netscape’s browser share had already declined to around 50%. The Netscape source code served as the basis for Mozilla’s Firefox browser, which is still used today.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.