Coinbase IPO SHATTERS Expectations - Should you Buy?
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Coinbase IPO SHATTERS Expectations - Should you Buy?
First of all what is coinbase? well it is a cryptocurrency exchange with 43 million users, and they probably like it because it is very user friendly, think of it as a crypto version of Robinhood. However when you buy crypto assets on Coinbase, it is really held by you, you can send the crypto off the exchange to a hardware wallet that can be disconnected from the internet, the safest way to store crypto. Coinbase also has its own wallet app where the assets are stored on your phone. Both the Coinbase app and Coinbase wallet are incredibly user friendly and intuitive which is one reason why the company has been bringing crypto to the masses and is now able to IPO on the market.
NASDAQ set Coinbase’s reference price at $250 which gives the company a valuation of over $50 billion. Some analysts are projecting the valuation at $100 billion which would make it bigger than the NASDAQ company itself and that is a good comparison because both companies essentially do the same thing, they are exchanges. Some have called this valuation ridiculous and there are value reasons why.
So what do I think about these valuations and should you buy the stock? If you like the sound that please hit the subscribe button for more personal finance tips and tricks every week. And remember this isn’t financial advice, just sharing opinions.
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