Market capitalization 100 billion dollars (11 trillion yen) Major cryptocurrency exchange "Coinbase" marks the history of NASDAQ listed crypto assets

Market capitalization 100 billion dollars (11 trillion yen) Major cryptocurrency exchange "Coinbase" marks the history of NASDAQ listed crypto assets

2021April 14, 2014 US Coinbase listed on Nasdaq

Coinbase Global, America's largest cryptocurrency exchange, will be listed on NASDAQ on April 14, 2021。

2021April 14,、"Coinbase Global", the largest crypto asset (virtual currency) exchange in the United States, is the US Securities Dealers Association Nasdaq(NASDAQ)Listed on。

In response to this news、Bitcoin(Btc)Prices have risen to near record highs、The corporate value of Coinbase itself far exceeds that of major financial institutions.。

The day before the listing of Coinbase, which is based on stock prices in the private equity trading market, reached a valuation of $ 100 billion.、The company's expected earnings and market capitalization、Citigroup、Morgan Stanley、Far beyond major financial institutions such as BlackRock。

2012America's largest crypto asset (virtual currency) exchange "US Coinbase" established in 1945、We have collected a transaction fee of 0.57% for all transactions using the exchange.。According to market research firm Market Watch、2020The company's revenue for the year was $ 1.1 billion (total transaction value was $ 193 billion).、Of that, transaction fees account for 86%。

According to Money & Markets、The public offering of 115 million shares of US Coinbase、2The base price a day ago was $ 200。However、Just before the listing, the company's stock valuation soared from $ 85 billion to $ 100 billion.、Base price is also rising。

Cleo Capital(Cleo Capital)Sarah Kunst(Sarah art)Is April 2, 2021、Against Bloomberg、Coinbase's assets under management are not high for a $ 100 billion valuation company。

US Coinbase has a potential market capitalization of $ 200 billion

Coinbase stock price、Suppose it has a strong correlation with the price of Bitcoin (BTC)。

As shown in the chart below、Bitcoin (BTC) prices and high-growth stocks such as Amazon and Tesla、What is the 90-day correlation over the past year with traditional exchange stocks such as the Chicago Mercantile Exchange (CME) and Nasdaq?、Was irregular and uncorrelated。

However、US Coinbase is a crypto asset exchange、Considering the growth potential of the technology and the widespread use of crypto assets、At the time of listing, it is expected to be closer to growth stocks such as Tesla and Amazon than typical indexes。

In other words、The market capitalization of US Coinbase exceeds 200 billion dollars (about 22 trillion yen)、It ’s not strange to be in the top 50 market capitalization in the world.。

Also、For crypto assets、Number of users does not show linear growth。Due to network effect、Will grow exponentially。In other words、2021The number of authenticated users (total number of people with Coinbase accounts) increased by more than 30% from the previous quarter in the first quarter of the year.、Shows that the potential value is greatly increased。

of course、These considerations are not investment advice。It could be a failure like Deliveroo, where the price seems to be too high and the stock price plummeted after listing.。

However、That's unlikely。this is、It is a direct listing, not an initial public offering (IPO)、Because investment banks do not set ambitious prices.。Directly listed advisors are usually、I will charge a fixed cost、IPO advisor pays some percentage of the proceeds。

US Coinbase is the National Securities Dealers Association Nasdaq(NASDAQ)What are the risk factors to consider when listing on the stock exchange?

However、US Coinbase is the National Securities Dealers Association Nasdaq(NASDAQ)There are also risk factors to consider when listing on。

1. Growth rate is slowing down。According to the latest Quarterly Review published by CoinDesk、1Trading volumes surged in March and February, but gradually declined in March。
2. Market trends、Affects investor interests and holdings。
3. Fees (currently the main source of income)、Decrease due to intensified competition。
4. Regulation becomes more complicated、Further increase in compliance costs。

Regardless of what happens to the stock price after listing、414th May will be a very important day for the crypto asset industry。Probably、Will remain in the history of crypto assets。

Profit margins can drop up to 98% as the market matures

1,000The $ 100 million stock valuation、It's a considerable amount of money。

Although Coinbase has 43 million accounts,、Assets under management per customer is around $ 2000。

on the other hand、Charles Schwab, a major asset management company, has 31.5 million accounts、With assets under management of 9 trillion yen、Assets per customer are more than three times that of Coinbase。It ’s not possible to expect this much from a company that has just been founded.、It ’s a very high hurdle.。

MarketWatch, a leader in financial news and market data(Market Watch)Analysts too、Market capitalization at the time of listing did not reach $ 100 billion、Implementation is expected to remain at around $ 18.9 billion。

Market Watch(Market Watch)according to、Cryptocurrency is still far from mainstream、As the market matures, the rate of return can drop up to 98%.。

The US coinbase (Coinbase) may be growing rapidly, but the securities code is "COIN" (coinbase ticker symbol)、It's not a stock that investors should rush to invest、And Market Watch(Market Watch)Analysts say。