Invest in Coinbase stock: Getting exposure to cryptos the easier way
Coinbase just went “IPO” a couple of days back and I have several readers asking if they should invest in coinbase stock at the moment.
My honest thoughts are that one should wait for the hype surrounding this block-buster listing to die down before investing in this rather controversial stock. Purchasing Coinbase, however, is an easier way to get indirect exposure to the crypto market.
The shares made a rollercoaster debut on Wednesday, opening at $381/share and rose as high as $429 in a matter of minutes, briefly valuing the company north of $110bn before ending the session at c.$328/share.
The implied market cap of coinbase at $85bn eclipsed that of traditional exchange operators who are much more profitable, as can be seen from the chart below.