Anybody taking a punt on Coinbase today?
Thoughts??
Everything I have read says its massively over optimistic with the valuation, not a single one saying otherwise.
I'm taking a risk on some crypto, this is one too many for me, I'm out
Hell no. If it gets to $250 I'll buy some.
I’m more Bullish on Square. They have BTC on their balance sheet, a payments App that is actually needed by businesses that use it and as a bonus also own Cashapp. If they disappeared tomorrow a large number of business owners globally would be in trouble.
If Coinbase disappeared tomo pfff, most of the world wouldn’t give a damn.
Outside of my schoolboy opinion / analysis their valuation and numbers don’t stack up for me.
I don’t see a defensible moat against competition long term. Their fees / spreads are outrageous in comparison to stock or FX platforms. If BTC continues to scale it will likely be available in most bank Apps over time.
Or
Maybe I’m totally wrong and Coinbase buy / kill all the banks. Their team is good and have executed near flawlessly to get to this point. Wouldn’t want to bet against them.
Staying well away for now as their shares will be like a new coin listing on Binance. There will be a massive spike/dump and then the price will gradually level off. That will be the time to look at buying if you really want some of the action.
Personally, for the short - medium term I would rather put my money into Bitcoin or Ethereum instead.
If Coinbase disappeared tomo pfff, most of the world wouldn’t give a damn.
+1
Seems an insane valuation to me, but I then I did very well out of Tesla last year, which also has an insane valuation.
If Coinbase disappeared tomo pfff, most of the world wouldn’t give a damn
They probably said that about the internet, Apple, Bitcoin etc too.
They probably said that about the internet, Apple, Bitcoin etc too.
Still applies to BitCoin....