San Francisco-based Coinbase, a bitcoin brokerage, has reached another milestone today. There are now over 1,000,000 consumer wallets set up on the service. The information comes from the company’s ‘About’ page, and it should be noted that the company has not made a formal announcement (yet).
On February 14th, we published an article that noted the company was fast approaching 1 million consumer wallets. At that time, the count was about 950,000. One week earlier, there were 890,000 account set up — and increase of 30,000 accounts in the matter of seven days.
Coinbase’s tremendous growth is attributed to the rising popularity of this emerging digital currency, which found itself in the mainstream spotlight first in April of 2013 (having reached over $200 per unit), and later in November, when the price surpassed $1,200 at troubled bitcoin exchange Mt. Gox.
Moving forward, it will be interesting to see if the rapid growth rate persists, especially since bitcoin isn’t getting the most pleasant of media attention (see Mt. Gox).