Gil Luria, director of research at D.A. Davidson, talks about Coinbase’s performance on its first day as a public company. In this episode, Gil discusses:
- the significance of Coinbase going public (1:05)
- why doing a direct listing was a risky move (1:31)
- why he revised his price target for COIN from $440 to $650 (3:17)
- how investing in COIN as a “pure play” crypto company compares to buying stock in companies like MicroStrategy and Square (5:06)
- why some people are disrupting Coinbase’s actual market cap (7:11)
- whether Coinbase can smooth out revenue over the long term and not be so correlated to the crypto markets themselves(10:45)
- what sort of statistics Gil is looking for in valuing Coinbase (13:08)
- why Gil thinks Coinbase can meet its goal of growing non-transaction revenue from 4% to 50% in five to ten years (15:32)
- how Coinbase could navigate the compression of fees that will occur as competition increases among exchanges (17:33)
- whether Coinbase’s stance as an apolitical company could affect the stock price in an era in which companies are getting involved in issues like voting rights (19:45)
- whether the Bitcoin price and COIN stock price will always be highly correlated (21:18)
- which other crypto companies are good candidates for going public as well (22:35)
- weekly news recap (24:03)
Thank you to our sponsors!
Download the Crypto.com app and get $25 with the code “Laura”:
https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2021
Check out InterPop, a superteam redefining the future of NFTs and fandom!
https://hellointerpop.io/?utm_source=Unchained&utm_medium=episode-sponsorship&utm_campaign=interpop-launch&utm_content=interpop
Episode links:
Gil Luria
Related Content
- Ellie Frost Blog:
-
- Tweet Thread on Market Cap Discrepancy w/ Comment From Jeff Dorman
-
- Forbes Coverage of Coinbase Direct Listing:
-
- Brian Armstrong CNBC Interview on Transaction Fees:
-
Learn more about your ad choices. Visit megaphone.fm/adchoices
