To The Moon

🌟🌟🌟Bitcoin has been on a wild roller coaster ride recently. It hit an all time high of more than USD 73,000 and just as suddenly it plunged below USD 63,000. On March 21 there was a net outflow of USD 94 million from the 10 Spot Bitcoins ETFs. This could be due to investors taking profits. BlackRock 's Spot Bitcoin ETF $iShares Bitcoin Trust(IBIT)$ was down 1.9% on Friday and in the past 5 days, it has dropped 6%. However IBIT is still up 36% year todate. $Coinbase Global, Inc.(COIN)$ was down 2.4% on Friday and in the past 5 days, it was up 7%. Coinbase has had very good run this year with its share price up a huge 62% year todate. In 2023, Coinbase has skyrocketed by 276%. Coinbase is now the largest Cryptocurrency Exchange in the US and one of the largest in the world. Coinbase has slowly build a good reputation as a trusted exchange in the crypto ecosystem. It is now dominating the custodian business for billions of dollars in Spot Bitcoin ETFs. Coinbase has an excellent management team under CEO Brian Armstrong who has spearheaded Coinbase's over reliance on transaction fees in 2022 to developing several new revenue streams such as subscription products, custodial services, stablecoin interest and staking rewards. Thanks to these efforts, transaction fees now make up just over half of the total revenue to 58% in Q423. As revenue streams are now more diversified, Coinbase's operating expenses have declined significantly due to a reduction of staff, remote work and automating processes. Coinbase's costs have fallen by 45% from the previous year. Wall Street Analysts are bullish on Coinbase with a Buy rating, Target price of USD 300. Coinbase's all time high was USD 345, a possibility of 35% upside potential. With the Bitcoin Halving Event in April, I believe that Coinbase's share price will rally together with Spot Bitcoin ETFs. The crypto industry is still at its nascent stage with the tantalising possibility of Spot Ethereum ETFs being approved for listing by the SEC in the near future. Coinbase is well positioned to gain due to its growth trajectory as the favoured go to crypto platform for both retail and big financial institutions as well the preferred crypto custodian for the various cryptocurrencies. The sky is the limit for Coinbase and it may well join the Trillion Dollar Club in the future. That is why Coinbase is My Top Pick for Crypto stocks. @Daily_Discussion @TigerStars @MillionaireTiger @Tiger_comments @CaptainTiger @TigerClub @Tiger_SG