Bitcoin soars to all-time high -- over $63,000 -- ahead of Coinbase IPO

April 13 (UPI) -- Bitcoin soared to a record high on Tuesday -- more than $63,000 -- a day before cryptocurrency exchange Coinbase goes public.

The value for a single bitcoin climbed to nearly $63,200 early Tuesday after a 24-hour rise in value of several percent, according to Coin Metrics.

By mid-Tuesday morning, bitcoin value was slightly less than $63,100.

Ethereum, the second most valuable cryptocurrency, also reached a record value of about $2,200.

Bitcoin's rise came a day before Coinbase is scheduled to hit the U.S. stock market on Wednesday as a direct listing on the Nasdaq composite. The cryptocurrency exchange has a valuation of about $100 billion.

"This is really good and really important for the industry," Marcus Swanepoel, CEO and co-founder of British cryptocurrency platform Luno, told CNBC. "It's going to increase the trust and transparency in our industry."

Ipek Ozkardeskaya, senior analyst at Swissquote, said the debut will likely be seen by traditional investors as an endorsement of cryptocurrencies, which have yet to gain widespread market acceptance.

"[Coinbase's debut] will mark the first official juncture between the traditional financial avenue and the alternative crypto path," Ozkardeskaya said in a report by Bloomberg.

Coinbase will be traded under the ticker symbol COIN on the Nasdaq beginning Wednesday.