Intro

This chapter discusses the upcoming stock listing of Coinbase and its implications for the cryptocurrency market. Featuring a guest expert, the episode provides insights into Coinbase's business prospects and the evolving nature of crypto analysis.

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Episode notes

Gil Luria, director of research at D.A. Davidson, talks about the upcoming Coinbase direct listing and his recent research note, “Introducing Crypto’s Amazon Moment.” In this episode, Gil discusses:

his crypto background, including his experience as the first Wall Street analyst to cover Bitcoin back in 2013 (1:27)
why the Coinbase IPO is going to be an inflection point for the crypto industry (3:02)
why he gave Coinbase's upcoming stock a “buy” rating (4:14)
who Coinbase's biggest competitors are (5:13)
why Gil believes Coinbase is the “gold standard” in crypto (6:29)
how investing in Coinbase stock compares to investing in actual crypto assets (8:13)
how he came to $195 price target for COIN (10:39)
why a $2 billion revenue estimate for Coinbase in 2021 might be conservative (12:01)
how Coinbase is generating money outside of transaction fees (14:19)
whether he expects the institutional adoption trend to grow (15:49)
what his expectations are for the price of COIN on the day it opens (17:20)
why GBTC is no longer trading at a premium to the spot price of bitcoin (18:20)
whether Gil will continue to cover crypto (20:05)
crypto News Recap (20:53)