Matthew Kennedy, senior market strategist at IPO research firm Renaissance Capital, said that if cryptocurrency prices continue to rise, there may be the largest wave of cryptocurrency-related initial public offerings (IPOs) in history in the next year and a half. In an interview, he said that up to 15 cryptocurrency companies may go public.

Kennedy said, "If Bitcoin continues its current trend, I believe this will open the floodgates. If it stays at its current level, this will also support more public offerings."