$Coinbase Global, Inc.(COIN)$ -To The Moon - Tiger Brokers Online Investing Community - To The Moon

$Coinbase Global, Inc.(COIN)$ Coinbase is one of the world's largest cryptocurrency exchanges. It held $101 billion in assets under custody at the end of 2023, and it was chosen as the custodian for eight of the 11 new Bitcoin spot price ETFs that went public earlier this year. It also flourished as many of its industry peers collapsed.

Coinbase's total trading volume declined 44% in 2023, but it still improved sequentially in the third and fourth quarters as the crypto market warmed up again. It's also been generating more of its trading revenue from the Tether stablecoin -- which accounted for 11% of its trading volume in 2023 -- and that shift could reduce its long-term dependence on Bitcoin, Ethereum, and its other more volatile crypto assets.

From 2023 to 2026, analysts expect Coinbase's revenue to grow at a CAGR of 21% as its adjusted EBITDA increases at a CAGR of 40%. Based on those estimates, its stock trades at 10 times this year's sales and 24 times its adjusted EBITDA.

Coinbase's stock isn't a screaming bargain yet, but it could still have plenty of room to run as the cryptocurrency market expands. That's why Ark Invest's Cathie Wood -- who believes Bitcoin's price can hit $1.5 million within the next three years -- holds Coinbase as a top holding across several of Ark Invest's most popular ETFs. If you believe cryptocurrencies will gain more attention from retail and institutional investors, you should follow Ark's lead and pick up a few shares of Coinbase.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":295611774664768,"tweetId":"295611774664768","gmtCreate":1713181358591,"gmtModify":1713187627774,"author":{"id":3479274802455671,"authorId":3479274802455671,"authorIdStr":"3479274802455671","name":"jeffry09","avatar":"https://static.laohu8.com/picture158","vip":8,"userType":8,"introduction":"运营账号","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"html":"<html><head></head><body><p> <a data-mention-id=\"COIN\" class=\"teditor-mention\" data-mention-name=\"Coinbase Global, Inc.\" href=\"https://ttm.financial/S/COIN\">$Coinbase Global, Inc.(COIN)$</a> Coinbase is one of the world's largest cryptocurrency exchanges. It held $101 billion in assets under custody at the end of 2023, and it was chosen as the custodian for eight of the 11 new Bitcoin spot price ETFs that went public earlier this year. It also flourished as many of its industry peers collapsed. </p><p>Coinbase's total trading volume declined 44% in 2023, but it still improved sequentially in the third and fourth quarters as the crypto market warmed up again. It's also been generating more of its trading revenue from the Tether stablecoin -- which accounted for 11% of its trading volume in 2023 -- and that shift could reduce its long-term dependence on Bitcoin, Ethereum, and its other more volatile crypto assets. </p><p>From 2023 to 2026, analysts expect Coinbase's revenue to grow at a CAGR of 21% as its adjusted EBITDA increases at a CAGR of 40%. Based on those estimates, its stock trades at 10 times this year's sales and 24 times its adjusted EBITDA. </p><p>Coinbase's stock isn't a screaming bargain yet, but it could still have plenty of room to run as the cryptocurrency market expands. That's why Ark Invest's Cathie Wood -- who believes Bitcoin's price can hit $1.5 million within the next three years -- holds Coinbase as a top holding across several of Ark Invest's most popular ETFs. If you believe cryptocurrencies will gain more attention from retail and institutional investors, you should follow Ark's lead and pick up a few shares of Coinbase.</p></body></html>","htmlText":"<html><head></head><body><p> <a data-mention-id=\"COIN\" class=\"teditor-mention\" data-mention-name=\"Coinbase Global, Inc.\" href=\"https://ttm.financial/S/COIN\">$Coinbase Global, Inc.(COIN)$</a> Coinbase is one of the world's largest cryptocurrency exchanges. It held $101 billion in assets under custody at the end of 2023, and it was chosen as the custodian for eight of the 11 new Bitcoin spot price ETFs that went public earlier this year. It also flourished as many of its industry peers collapsed. </p><p>Coinbase's total trading volume declined 44% in 2023, but it still improved sequentially in the third and fourth quarters as the crypto market warmed up again. It's also been generating more of its trading revenue from the Tether stablecoin -- which accounted for 11% of its trading volume in 2023 -- and that shift could reduce its long-term dependence on Bitcoin, Ethereum, and its other more volatile crypto assets. </p><p>From 2023 to 2026, analysts expect Coinbase's revenue to grow at a CAGR of 21% as its adjusted EBITDA increases at a CAGR of 40%. Based on those estimates, its stock trades at 10 times this year's sales and 24 times its adjusted EBITDA. </p><p>Coinbase's stock isn't a screaming bargain yet, but it could still have plenty of room to run as the cryptocurrency market expands. That's why Ark Invest's Cathie Wood -- who believes Bitcoin's price can hit $1.5 million within the next three years -- holds Coinbase as a top holding across several of Ark Invest's most popular ETFs. If you believe cryptocurrencies will gain more attention from retail and institutional investors, you should follow Ark's lead and pick up a few shares of Coinbase.</p></body></html>","text":"$Coinbase Global, Inc.(COIN)$ Coinbase is one of the world's largest cryptocurrency exchanges. It held $101 billion in assets under custody at the end of 2023, and it was chosen as the custodian for eight of the 11 new Bitcoin spot price ETFs that went public earlier this year. It also flourished as many of its industry peers collapsed. Coinbase's total trading volume declined 44% in 2023, but it still improved sequentially in the third and fourth quarters as the crypto market warmed up again. It's also been generating more of its trading revenue from the Tether stablecoin -- which accounted for 11% of its trading volume in 2023 -- and that shift could reduce its long-term dependence on Bitcoin, Ethereum, and its other more volatile crypto assets. From 2023 to 2026, analysts expect Coinbase's revenue to grow at a CAGR of 21% as its adjusted EBITDA increases at a CAGR of 40%. Based on those estimates, its stock trades at 10 times this year's sales and 24 times its adjusted EBITDA. Coinbase's stock isn't a screaming bargain yet, but it could still have plenty of room to run as the cryptocurrency market expands. That's why Ark Invest's Cathie Wood -- who believes Bitcoin's price can hit $1.5 million within the next three years -- holds Coinbase as a top holding across several of Ark Invest's most popular ETFs. If you believe cryptocurrencies will gain more attention from retail and institutional investors, you should follow Ark's lead and pick up a few shares of Coinbase.","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/295611774664768","repostId":0,"isVote":1,"tweetType":1,"viewCount":2,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["COIN"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":1240,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/295611774664768"}