$Coinbase Global, Inc.(COIN)$ is a great crypto exchange company with a forward-looking mission statement, i.e. to create an open financial system for the world. While most bankers don't believe in things that they can't visualise but doesn't mean that we shouldn't invest in companies that are striving hard to support the new investment world. COIN maintains pooled custodial accounts at FDIC-secured banks, securely connects customers' bank accounts for crypto trades & blocks suspicious accounts to ensure user safety. In 2022, COIN & BlackRock(BLRK) created new access points for institutional crypto adoption by connecting Coinbase Prime and Aladdin (portfolio management software for BLRK's institutional clients). The partnership extended when recently, BLRK announced COIN as its custodian for its crypto ETF. This shows the leadership of COIN in the crypto exchange space, especially the company has been ramping up efforts in serving customers better. That being said, most analysts are putting a much lower price target. Haters will always hate; they'll criticise that the valuation of COIN is built on a shaky foundation, regulatory concerns and maybe in their minds, crypto may even be a complete fraud. Thus, they belong in a bricks & mortar era, where these so-called "smart investors or analysts" will do or say anything to protect their bruised ego in the coming 5 years (they normally label it as wealth preservation). On the other hand, the so-called "less sophisticated" investors will prevail when they stick with the right businesses in the new world.
Comments
I hope if you were a bag holder at $100 you took your money back and are waiting to buy back when it dips again. Love me some COIN but at a safe price point
COIN could spring to $150 tomorrow. Who knows. It is the future.
I see a lot of desperate shorties trying to cover at a lower price because now they start understanding their bet is wrong
I'm loading and loading here... It may not be today, Monday or next week but I believe this reaches new highs soon.
Probably AI maybe tesla netflix who knows stocks which has nothing to do with COIN. Sympathy move
Options players will try very hard to keep below 100 today.