Coinbase going public is going to be a huge boon for the crypto industry
In case you hadn't hear, Coinbase has filed to go public in the not too distant future.
I haven't seen the exact date yet, but I believe it is expected to be in Q1 of this year.
Some out there think that Coinbase going public is not only not going to be a huge boon to crypto, but actually a significant negative, I disagree...
Based on their most recent fundraising round, Coinbase is said be valued around $8 billion, but that was in 2018.
Based on things I have read the current valuation is probably closer to $16 billion, or maybe even $32 billion depending on who you ask.
(Source: https://www.coininsider.com/coinbase-details-revealed-in-wake-of-reports-about-possible-ipo/amp/)
Why does this matter?
The argument against Coinbase going public is that it will pull institutional money away from bitcoin.
While that is probably true to some degree I think the net number will be overwhelmingly positive.
Meaning that some money that might have bought bitcoin will instead buy Coinbase stock, but the amount of new money it brings in to bitcoin and crypto on the whole will likely significantly dwarf that.
Also, Coinbase will be well capitalized and have money to grow the ecosystem, something that the crypto industry has definitely needed.
This was from Axios the other day about what they see as potential positives from the Coinbase IPO:
(Source: https://www.axios.com/coinbases-ipo-bitcoin-aa6c6a7a-ac92-4d5f-8bb0-e0f1f305f169.html)
Investors will first buy Coinbase, and then as that performs well, they will venture out and buy bitcoin as well.
It's to build on itself pushing both assets higher and higher as the positive feedback loom continues all the way up.
I don't own many individual stocks these days, but seeing how well some of these unicorn companies have done recently with all the money printing going on, I will probably be buying some shares of Coinbase.
Bitcoin and Coinbase are both going to be flying later this year, both helping push each other higher.
Stay informed my friends.
-Doc
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2 Billion in transaction fees!😛
These are some serious numbers in transaction fees... they should go down in general...
Yea their revenue is all over the place. It booms in bull markets and turns into a trickle in bear markets...
You're talking about it being listed on the nyse because I would love to rob them
Huh?
I looked it up, I meant the new york stock exchange
I see this as a good thing as well. The main reason is because it creates more visibility about Crypto and people can easily explore how they can invest into Crypto with the help of Coinbase. I really wish we had a strong exchange in India similar to Coinbase. 😀
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Yep exactly, it legitimizes the entire industry. A business that makes money in crypto.
I don't agree.
The large institutions that want to hold BTC as a store of value, will still buy BTC.
I think smaller hedge funds and investment funds that don't want direct BTC risk will buy into Coinbase.
I don't see the Coinbase IPO slowing down big money in BTC in anyway.
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Pretty much how I see it as well.
That's like arguing against mining stocks in the precious metal community... nobody does that
I think Coinbase going public would be really bullish for Bitcoin, because a lot of people might join who dont want to directly invest in crypto but wouldnt mind investing in a company in the Cryptospace. And when Coinbase is booming we will have more people asking/knowing about BTC and other Cryptos.
Edit: Can you get the Compound/Lumen in those links? It seems like nobody with an existing Account can.
https://coinbase.com/earn/comp/invite/8x4vqjm3 https://coinbase.com/earn/xlm/invite/tx1r2c40
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Each of the earn links only work for first few users, after that, people should post their own links for other people to be able to earn more... All users must have verified accounts, but the verification only takes few seconds using mobile phone.
Yea, that's pretty much my line of thinking as well.
i just doubted that Coinbase will release its shares to public, then there is a chance that the crypto business will be displaced if it is no longer profitable, maybe it's Coinbase's long-term plan ..
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Cryptocurrency industry will always be profitable as long as there is mining/transaction, deposit/withdraw and trading fees... Even if the fees are small, the cumulative amount might well be enough to push it profitable.
Well they will soon have billions of dollars at their disposal to build out all sorts of branches for their business.
I'd be interested in buying some Coinbase as well. Hopefully with the money coming in it allows them to expand a little more and offer some more options in terms of purchase or at the very least trading pairs. Getting Hive on Coinbase would be awesome!
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Yep, how do we make that happen?
Good question, people have been trying for months. Even before Hive existed they were trying to get the other one on!
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Looks good to me. The Goldman Sachs of crypto . . . so to speak, without the negatives. 😉
Brings credibility, and legitimacy. Both very big positives.
The good news just never stops! Just what we should expect at the lower left of the adoption "S" curve!
DIEM launching and Coinbase going public are two very big catalysts expected in the early part of this year.
What everyone actually is waiting for is Coinbase (the company) trading their own stock as wrapped token on Coinbase (the exchange), Coinbase Pro and other exchanges... That way it doesn't hurt the cryptocurrency industry as people can still buy Bitcoin and Ethereum.
Ha, now that would be something... Tokenized securities is probably what comes next.
There is already South American exchange that sells their own "shares" as ERC20 token...
Basically with each token you get certain percentage of the monthly profits.
How can I buy coinbase share ?
Helpful lines are anticipated.
You can't until after it launches, which is sometime in the coming months.
I'm not a huge fan of Coinbase but I'll definitely be adding a few of these to the portfolio. I could see this getting really hyped up by the media too.
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Yep exactly. Robinhood going public as well in the near future, I think those two stocks are going to absolutely fly. Millennials love em.