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Coinbase IPO

Posted on 4/7/21 at 8:26 am
Posted by mach316
Jonesboro, AR
Member since Jul 2012
4776 posts
Posted on 4/7/21 at 8:26 am
Whether you believe in crypto or not, this has to be one of the biggest events happening in this space. What’s the board’s thoughts on this one? (COIN)
Posted by Douglas Quaid
Mars
Member since Mar 2010
4098 posts
Posted on 4/7/21 at 8:33 am to
I'd be asking myself what Coinbase's revenues might look like in crypto winter.
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
80780 posts
Posted on 4/7/21 at 8:37 am to
quote:

I'd be asking myself what Coinbase's revenues might look like in crypto winter.

This - they will be IPOing at the best time imaginable. When we hit the bottom of the 4 year crypto cycles in a year or two, it will be interesting to see what that stock price does.
Posted by tenderfoot tigah
Red Stick
Member since Sep 2004
10400 posts
Posted on 4/7/21 at 8:58 am to
quote:

When we hit the bottom of the 4 year crypto cycles in a year or two, it will be interesting to see what that stock price does.


If the SEC approves a Bitcoin ETF, you will never see 50k Bitcoin again.
Posted by Douglas Quaid
Mars
Member since Mar 2010
4098 posts
Posted on 4/7/21 at 9:04 am to
We will never see x price again is definitely one of my favorite crypto tropes.
Posted by rocket31
Member since Jan 2008
41819 posts
Posted on 4/7/21 at 9:06 am to
yea most likely not
This post was edited on 4/7/21 at 9:07 am
Posted by mach316
Jonesboro, AR
Member since Jul 2012
4776 posts
Posted on 4/7/21 at 9:19 am to
quote:


If the SEC approves a Bitcoin ETF, you will never see 50k Bitcoin again.


Grayscale is planning on converting GBTC into an ETF. A bitcoin ETF will be approved eventually IMO. I figured Grayscale will definitely be one of those considered.
Posted by STLhog
Nashville, TN
Member since Jan 2015
17718 posts
Posted on 4/7/21 at 9:24 am to
JPM moved their target to like 130k this week.
Posted by finchmeister08
Member since Mar 2011
35657 posts
Posted on 4/7/21 at 9:34 am to
quote:

If the SEC approves a Bitcoin ETF, you will never see 50k Bitcoin again.


i'm dumb when it comes to this, will it go up or down.
Posted by tenderfoot tigah
Red Stick
Member since Sep 2004
10400 posts
Posted on 4/7/21 at 9:35 am to
quote:

We will never see x price again is definitely one of my favorite crypto tropes.



Your silver investments are definitely the way to go.

For the uninformed:

LINK

quote:

There Are Now 7 High-Profile Bitcoin ETF Applications
Canada’s three Bitcoin ETFs and a number of high-profile Bitcoin ETF applications in the US are piling pressure on the SEC to open the floodgates.


quote:

When investment giant Fidelity filed for a Bitcoin ETF yesterday, it became one of at least seven companies hoping to get approval by the US Securities and Exchange Commission (SEC).

The list of current applicants include Anthony Scaramucci’s SkyBridge Capital, the New York Digital Investment Group (NYDIG), ETF provider VanEck, and crypto index provider Bitwise. NYDIG, of course, is a subsidiary of asset management firm StoneRidge.


The only ones who should be laughing are the crypto investors and their 1000% yearly returns.
Posted by tenderfoot tigah
Red Stick
Member since Sep 2004
10400 posts
Posted on 4/7/21 at 9:36 am to
quote:

i'm dumb when it comes to this, will it go up or down.


Fidelity alone has 7 trillion in their accounts. You tell me.
Posted by rocket31
Member since Jan 2008
41819 posts
Posted on 4/7/21 at 9:44 am to
I am curious why the us seems to be slow on the etf approval
Posted by finchmeister08
Member since Mar 2011
35657 posts
Posted on 4/7/21 at 9:45 am to
i posted this video in the crypto thread. not sure how most people feel about this guy...


YouTube












he finds it odd that it went from $8B in 2018 to $54B in 1/21 to doubling to $100B in 2/21. how does a valuation double in the private market?











here's the guys conclusions:






Posted by STLhog
Nashville, TN
Member since Jan 2015
17718 posts
Posted on 4/7/21 at 9:45 am to
quote:

i'm dumb when it comes to this, will it go up or down.


You'll have all major retailers buying in via ETF vs obscure iphone Apps.

What happens when a commodity/equity is bought in large amounts?
Posted by finchmeister08
Member since Mar 2011
35657 posts
Posted on 4/7/21 at 9:46 am to
quote:

Fidelity alone has 7 trillion in their accounts. You tell me.


quote:

You'll have all major retailers buying in via ETF vs obscure iphone Apps.

What happens when a commodity/equity is bought in large amounts?


This post was edited on 4/7/21 at 9:47 am
Posted by rocket31
Member since Jan 2008
41819 posts
Posted on 4/7/21 at 9:47 am to
yea and I'm pretty sure that coinbase manipulated it's active user numbers with some dormant accounts

I'm a pretty risky investor and I'm sitting out of this one.
Posted by finchmeister08
Member since Mar 2011
35657 posts
Posted on 4/7/21 at 9:49 am to
quote:

yea and I'm pretty sure that coinbase manipulated it's active user numbers with some dormant accounts

I'm a pretty risky investor and I'm sitting out of this one.


the guy did suggest waiting 90 days. i definitely want to get in, but at what point is it a good time? no one knows. it could skyrocket and never come back down.
Posted by rocket31
Member since Jan 2008
41819 posts
Posted on 4/7/21 at 9:53 am to
yea, for me, it just seems hard for them to continue on this Q1 growth for the rest of the year

afterall it's just an exchange, that not many people like, which could be replaced. maybe by voyager, or possibly by a traditional broker like fidelity who decides crypto is the future.

anyway just my bearish case
Posted by dagrippa
Saigon
Member since Nov 2004
11295 posts
Posted on 4/7/21 at 9:57 am to
quote:

no one knows. it could skyrocket and never come back down.


Seems more likely to drop after an initial spike.
Posted by tenderfoot tigah
Red Stick
Member since Sep 2004
10400 posts
Posted on 4/7/21 at 10:23 am to
quote:

yea and I'm pretty sure that coinbase manipulated it's active user numbers with some dormant accounts

I'm a pretty risky investor and I'm sitting out of this one.


You can just look at revenue and sales to make an educated decision. You can ignore stuff like that to formulate a rough valuation of Coinbase.
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