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)

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Episode links:

Gil Luria

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