To The Moon

🌟🌟🌟Cryptocurrency Bitcoin is sizzling hot right now! Bitcoin's price has climbed to a near USD 39,000 for the first time since April 2022. The next level would be USD 40,000! Optimism is in the air that the SEC would grant its seal of approval for Spot Bitcoin ETF as early as January 2024. $Coinbase Global, Inc.(COIN)$ Share price has been going up like a rocket to the moon! It has closed 7% up on Friday and in the past week it has jumped 19%. Year todate Coinbase has tripled in value by a whopping 298%! That is rather amazing considering Coinbase's share price has plunged to a low USD 31.55 in the past 52 weeks. Can Coinbase go up further? Coinbase stock has been on an uptrend since late October. While Coinbase has grown from strength to strength, its competitor Binance has had a tough time. Coinbase has even outpaced Bitcoin and Ethereum with a 298% jump while Bitcoin is up 130% and Ethereum is up 75%. In Q3 23, Coinbase's total revenue jumped 14% to USD 674.1 million versus Analysts' expectations of USD 651 million, ending a 6 quarter streak of double digit declines. It posted a loss of 1 cent per share, improving from a loss of USD 2.43 per share last year. This was much better than Analysts'expectations of a loss of 55 cents per share on a 10.4% revenue growth. Coinbase has also announced that eligible customers in the US can now trade futures contract tied to Bitcoin and Ethereum through Coinbase Financial Markets. Coinbase is also offering leverage trading which allows investors with borrowed funds to increase their trading position, but it comes with high risks. These new contracts are geared towards retail traders. Coinbase has been busy developing various new products to lessen its dependence on transaction fees and help it to generate even more revenue. These are subscriptions and services which include stablecoin revenue, blockchain rewards, interest income and custodial fees. In the past transaction fees make up almost 90% of total revenue but now subscriptions and services make up more than half of total revenue. Coinbase has implemented a series of cost cutting measures to reduce its expense to its lowest level in more than 2 years. Coinbase has continued to innovate, develop and expand its product offering. In August 2023, it released its very own Blockchain called Base. In just 3 months, Base has become one of the most popular blockchain, generating more than USD 5 million in revenue. Coinbase is prioritising international expansion. Coinbase's Go Broad, Go Deep strategy has resulted in Coinbase's presence in more than 100 countries which includes Singapore. Coinbase has also launched its International Derivative Exchange, new products for investors and cloud solutions. This shows that Coinbase has an excellent management team under CEO Brian Armstrong. I am excited at the new pathways that Coinbase is taking. It shows its agility, resilience, innovation in the face of adversity. Coinbase is just USD 2 million away from being profitable. That is an amazing achievement when it posted a loss of more than USD 1 billion a year ago. Coinbase exemplifies the kind of company that I want to invest in. With the imminent approval of Spot Bitcoin ETF by SEC in January next year, Coinbase is the best stock to invest to catch the explosive growth ahead for crypto currencies. Coinbase will continue to bask in Crypto Summer well into the future and I would like to be part of it too. @Daily_Discussion @TigerStars @MillionaireTiger @CaptainTiger @Tiger_comments @Tiger_Earnings @TigerPicks @TigerClub @Tiger_SG