Every Crypto-bro around the world is rejoicing as they can now afford their water bill in lower Manhattan. Truly a spectacle of America. Coinbase going public is big news for more than the bro’s though, this was the common mans dream. Let’s get into it.
Coinbase, under the ticker $COIN has been making waves in the business media recently as the crypto exchange went public today via a direct listing. The company which operates much like any other app-based broker/exchange took aim at one single commodity and that is crypto and crypto currency, and today the bet is making them billions as the company was valued anywhere from 49 to 100 billion freaking dollars which is already insane, spoiler it ended off it’s first day at like a 60 billion dollar value. Coinbase also has taken (or almost has taken) the rank of 9th largest bank in the world which is again, ludicrous. But Coinbase flips the bird to all the haters and was finishing off the first day on the market at about $330 dollars a share which in itself is amazing. Coinbase has also been able to navigate through the news cycle without pissing off everyone, something that Robinhood failed to do.
Look Coinbase in our eyes is a fantastic company with a promising future, especially now that it is riding the media and social wave of crypto which started with Bitcoin back in late 2017, early 2018. Crypto currency in my eyes is the “common man’s currency” you know? There are tons of crypto’s out there and much like stocks some are severely undervalued, this gives more than just hedge funds the opportunity to make a chunk of change. Coinbase also in its own right leverages the publics use of crypto. It was really the last thing crypto needed to fully cement itself into our financial culture, a home base for millions of users. Facebook did that with social media, Airbnb did it with hotels, Uber did it with rides, shit even Robinhood did it…. Albeit poorly, with retail investing. Coinbase helped build a bridge of trust between the product and the user, ultimately the company was the final thing needed, a home…..awwwwww. But yeah, I mean when you have something so mysterious yet powerful, if you can convince the public that it IS safe, you got yourself a jackpot bud.
As crypto continues to soar so will Coinbase. The usage and demand will go parallel because when you buy crypto you need somewhere to put it. Although Coinbase sells two crypto’s almost full time, that being Bitcoin and Ethereum, what the platform will do is help educate its customers into buying other digital assets. I mean the thing is fucking genius. A place to learn and place to test those skills, you don’t get to see that every day.
Coinbase, good luck. Don’t fuck this all up like Robinhood did. Still gonna use the app tho.
Anyway, that’s my take on it. Until next time. -GS
Kommentare