In less than two days will be the Coinbase IPO. Many investors are now anticipating that with the introduction of Coinbase to the public there is potential for further growth in investors demand for crypto.
To take trading exchange perspectives:
On the low end Coinbase could open at a market cap of $50 billion or as high as $100 billion. The mire comparison of Coinbase to the other top US exchanges such as IEC - International Exchange Commissions & NYSE- New York Stock Exchange and Nasdaq has to simply be remarkable. Coinbase was founded in 2012 while the comparing counterparts NYSE as the oldest started in 1792, IEC in 1906, and Nasdaq 1971. It took Coinbase less than 8 years to become a power house when looking at exchange market caps.
In addition Coinbase's disclosed last quarter, 2020, to have a revenue of $1.8 billion and over 56 million verified users. A exchange that is accessible to many people in the world and the fact that it does not even serve all cryptos but only 50 of them. All be it 50 of most popularly traded cryptos. If you are interest to see their list of coins supported:
Coinbase's 50 Supported Cryptos on Exchange
Looking Ahead for Coinbase
The demand for investing in crypto by general public will only grow and for those not wanting to dive directly into crypto exchanges they will likely instead invest in companies that will correlate to crypto performances. What better option than to invest in Coinbase.
There is also the potential of existing ETFs and future ETFs that will be willing to invest in Coinbase making it appear as crypto has increasing demand. Hedge Funds managers such as Cathie Woods would likely have ARK funds that could potentially invest in Coinbase. Then there potentially new crypto ETFs introduce in the coming years. Those ETFs will likely be in search of Coinbase as an investment as Coinbase will likely correlate to the crypto boom.
None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!
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